SBIN: Beat the street with India's largest lender
SBIN has given a rounding bottom breakout with decent volume. All the Oscillators are positive. We can expect near term price movement upto 425-450, medium term upto 500 and beyond. I'm very bullish on SBI, because of its robust operating performance, loan growth recovery, strong deposit growth, outstanding asset quality and controlled slippages. As the Indian economy starts reopening gradually after peaking out of the second Covid wave, analysts believe that large bank stocks should turn out to be one of the top beneficiaries. My target price is of Rs 500 on this stock. Chart is self explanatory.
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