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.
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