Rahul Mohindar of Viratechindia said that there is a possible downside in SBI’s stock value.

He said that the stock will experience other downside of Rs 100-150 with a short-term to medium-term viewpoint.

Mr. Mohindar stated, “In SBI, there is a visible short opportunity clearly because the stock looks much overstretched, it has reacted from more than Rs 1700 levels on its way down. So, I think technically we would have achieved almost all targets on both shorter-term and longer-term counts.”

He doesn’t believe that the SBI stock can do much on the positive aspect.

It was a jerky session on Dalal Street. After a hopeful beginning, the indices came below a session of profit booking and trimmed off the majority of the day’s gains. The Nifty ended flat at 4,620 points after gaining just 1.40 points, whereas the Sensex ended the day at 15,795, up 63 points.

The stock markets closed on a flat note after a quite impulsive session. The boarder markets ended in the red with a weak breadth. In the F&O section, the return was the highest ever at Rs 64,281 crore.

IT, capital goods and IT stocks - Reliance Energy, Satyam, BHEL, NTPC, and HDFC Bank ended the day in the green, ended higher. But, selling pressure was seen in auto, FMCG, and pharma stocks.

Ambareesh Baliga of Karvy Stock Broking is of the view that investors wi

Anil Manghnani of Modern Shares & Stock Brokers is of the view that Tata Consultancy Services (TCS) has trading target of Rs 1200.

State Bank of India (SBI) will not increase interest rates for a range of existing home and education loan customers’.

Even as the shift may be partially influenced by the earlier finance ministry recommendation that banks should not rush through rate increases.

The banks’ asset liability committee (Alco) that gathered on late Thursday evening, has suggested to the bank panel that the standard prime-lending rate (PLR) may be hiked up by 50-75 basis points. At this time, the bank’s PLR is 12.25%.

India’s largest house finance banking company HDFC has announced raised lending rates by 75 basis points for new loan seekers, and on the other hand, the interest rate is up 50 bps for the existing customers.

The 50 bps hike will translate into a Rs 32 hike each month on a loan of Rs 1 lakh borrowed for 20 years. Yet HDFC’s after hike rates are cheaper than its nearest rival ICICI Bank which annunciated a rate hike last Week. Last week, ICICI Bank increased its benchmark advance rate to 15.75%, while Yes Bank hiked its PLR to 14.75%. However, the state-owned banks are yet to consider their lending rates.