Sbi although currently overbought on shorter time frames, but has a huge scope of moving in uptrend with normal corrections.
With Moody's downgrading the stock, I think we have seen a bottom for now. Also with nifty bank having a huge scope in moving upwards, we can see this stock leading with the likes of private banks HDFC BANK, ICICI AND KOTAK.
Recently broke the trendline which was acting as a resistance.
200EMA acting as a resistance around 220, but with good momentum and volume this can easily be taken apart. Although we have to be very cautious seeing the market being very bullish for past 3 months and there is no major corrections seen in the stock market.
I would accumulate this stock on dips if the market corrects.
All the above details mentioned above are my personal views. This is not a buy or sell call. Please do your own research too.
With Moody's downgrading the stock, I think we have seen a bottom for now. Also with nifty bank having a huge scope in moving upwards, we can see this stock leading with the likes of private banks HDFC BANK, ICICI AND KOTAK.
Recently broke the trendline which was acting as a resistance.
200EMA acting as a resistance around 220, but with good momentum and volume this can easily be taken apart. Although we have to be very cautious seeing the market being very bullish for past 3 months and there is no major corrections seen in the stock market.
I would accumulate this stock on dips if the market corrects.
All the above details mentioned above are my personal views. This is not a buy or sell call. Please do your own research too.