SBI share price to give whopping 7 pct returns on your money in just 1 month, says market expert Sumeet Bagadia
SBI share price can hit Rs 335-Rs 340 levels in shot-term while in mid-term it can hit Rs 375 to Rs 380 levels.
SBI share price: The State Bank of India (SBI) share price has received heavy beating over the last month. SBI shares slipped from Rs 334.40 per stock level to Rs 317. However, in this period of one month, SBI stock price made a high of Rs 339.30 per stocks while it made a low of Rs 313.70 in the same period. On the basis of that SBI stock price movement, stock market expert Sumeet Bagadia has suggested share market experts that the banking major is moving in a range of Rs 300-Rs 310 to Rs 335-Rs 340 per stock levels. He suggested the share market investors to take buy position at the current market price of Rs 317-18 for the immediate target of Rs 335 to Rs 340 in a short-term time horizon.
Speaking on SBI share price outlook Sumeet Bagadia, Executive Director at Choice Broking said, "SBI shares have been showing southward trend for around one month but it has maintained its levels above Rs 310 which suggests that it has strong support level at Rs 300 to Rs 310. Similarly, it has made a high of Rs 339.30 that means it has strong resistance at Rs 335 to Rs 340 per stock levels." Bagadia said that SBI stocks are poised for upside movement in short to mid-term and it would soon hit its Rs 335-Rs 340 resistance levels.
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On the suggestion to share market investors in regard to the SBI shares Sumeet Bagadia said, "I would advise share market investors to take buy position at current market price. It will soon hit Rs 335 to Rs 340 levels. However, one should strictly maintain the stop loss below Rs 300, in fact, at Rs 280-285 per stock levels." However, Bagadia went on to add that once the SBI stock price breaks Rs 340 levels, it will soon hit Rs 375-380 per stock levels in the mid-term time horizon. "I would advise investors to take a long position in SBI shares and book profit when it hits Rs 375-380 levels as SBI shares are portfolio stocks," concluded Sumeet Bagadia.
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