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    HomeNewsBusinessMarketsBuy State Bank of India, target Rs 308: Rupak De

    Buy State Bank of India, target Rs 308: Rupak De

    Traders can accumulate the stock in the range of Rs 285-290 for the target of Rs 308 and a stop loss below Rs 278.

    Moneycontrol Contributor
    January 31, 2019 / 11:12 IST

    Rupak De

    State Bank of India formed a Doji candle on the daily chart which was followed by a large green candle which suggests a falling trend has ended and the stock price is ready to move up in the short-term.

    The momentum indicator, RSI (14) has reversed from the oversold zone and has entered in a bullish crossover. Traders can accumulate the stock in the range of Rs 285-290 for the target of Rs 308 and a stop loss below Rs 278.

    The author is a Technical Research Analyst at Bonanza Portfolio Ltd.

    Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol Contributor
    Moneycontrol Contributor
    first published: Jan 31, 2019 11:12 am

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