SBI share price to give 10 pct return in just weeks! Buy this hot stock, say experts
SBI share price is expected to jump and give investors around 10 per cent returns as both fundamentals and technicals are supporting upside movement in this banking counter.
SBI share price has been on the upside after reporting a robust Q2FY20 result and this was beyond market expectations. The second-quarter result of the State Bank of India (SBI) caught the eyeballs of the stock market experts. According to the share market experts, the SBI share price is showing an upside movement after hitting bottomed out levels. Experts are of the opinion that the SBI share price will touch Rs 310 levels in 2-3 weeks or a maximum of one month. Currently, the SBI share price is oscillating around Rs 284 per stock levels.
Speaking on the strong fundaments that are helping SBI shares to skyrocket, Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "The SBI share price has already bottomed out and after the strong second-quarter results, the banking share is poised to give an upside movement. In the short-term perspective, I am expecting the SBI share price to hit Rs 310 levels. I would advise stock market investors to take buy position in SBI shares at current levels maintaining the stop loss at Rs 268 per SBI shares."
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Kunal Saraogi, CEO at Equity Rush said, "In recent times, both SBI shares and the Bank Nifty have received a heavy beating and both have bottomed out making for a clear buy position in both. I recommend stock market investors to take buy position in SBI shares at around 280 levels for the targets of Rs 320 in mid-term means near three months." However, Saragoi suggested share market investors put the stop-loss at Rs 275, saying that if SBI share price falls below 275, it may even show Rs 260.
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