SBI share price today: Should investors buy or not? Check what expert Nilesh Jain says
SBI Share price today: People willing to invest in State Bank of India's (SBI) shares should buy the stock in small quantities, technical analyst Nilesh Jain of Anand Rathi Securities recommends. He said that ideal levels for buying SBI shares is between Rs 185 - Rs 190 for a better risk-to-reward outcome
SBI Share price today: People willing to invest in State Bank of India's (SBI) shares should buy the stock in small quantities, technical analyst Nilesh Jain of Anand Rathi Securities recommends. He said that ideal levels for buying SBI shares is between Rs 185 - Rs 190 for a better risk-to-reward outcome. The consolidation of SBI stock price has already been happening but it will still take a while to completely consolidate, he said adding that the stock of this largest state lender was a slow mover.
There will be opportunities for the buyers to buy at these levels, going forward, he adds.
SBI stock may reach a price level between Rs 205 and Rs 220 in a fortnight, Jain said. He said that the chances are likely for an upswing for SBI stock which has seen a base formation around 173 and 175. He puts the stop loss around this price band. Chances were very grim if the prices would breach this level on the negative side, he said expecting a pull effect on the stocks.
While most, PSU bank stocks have seen a good rally, SBI has still not come there, but there were strong chances for a rally in SBI stock he said. Most PSU bank stocks have appreciated by 5-7 per cent, he added.
The SBI stock on Monday was trading around Rs 193 at 12:40 pm attaining an intra-day high of Rs 197.30 while an intra-day low of Rs 190.10.
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SBI stock has taken a significant beating after attaining a 52 week high of Rs 373.70. The 52-week low for SBi stocks was Rs 173.60.
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