Mazhar Mohammad Chartviewindia.in
State Bank of India (SBI) appears to be on the verge of a breakout as it is in a consolidation mode with positive bias after registering a Bullish Engulfing formation on relatively higher volumes couple of days back.
It can face a minor hiccup around Rs 265 but once that hurdle is crossed momentum shall further get strengthened in it.
Hence, positional traders shall buy into this counter with a target of Rs 281 and a stop placed below Rs 254 on a closing basis.
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.
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