SBI Trading in Attractive Zone

If you are looking to invest in finance or banking sector, then you can think of SBI.

SBI is one of the biggest bank among PSU banks, also in list of top 10 companies in terms of market cap.
From fundamental view, bank increasing NPA is due to merger of small banks with SBI which will be not for long duration. also this govt. is continuously working for better economy condition, which is positive for bank in coming years.

On technical chart, SBI made life time low of Rs 150 in feb 2016 and since then it is in up trend. After making year high of Rs 315, minor correction take SBI at strong support of Rs. 270.
After testing low of Rs 270 many times, now SBI again bounce from this level.

ALSO READ : Shares Which Can Give 5 to 10 Times Returns In Next 5 Years.

If any one want to invest in SBI, this level is very attractive with the mid term target of Rs 285 - 300.

Rs 315 is upper level strong resistance, if SBI closes above 315 on weekly chart, then you can see 350.

For short term investor keep a stop loss of Rs 260, for long term investor stop loss will be Rs 245.

Note - Investing in share is subject to market risk, always trade with strict stop loss and book profit also keep eyes on any news related to company you have invested. If you like this idea then please advice from your financial adviser or try to study more about company before investing.
This buy call is purely suggested based on technical charts.

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