Another Downside Of Rs 100-150 In SBI Looks Imminent : Rahul Mohindar
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.
State Bank of India (SBI) is India's biggest commercial bank with a large domestic network of more than 9000 branches. It consists of a network of eight banking subsidiaries and various non-banking subsidiaries providing merchant banking services, fund management, factoring services, primary dealership in government securities, credit cards and insurance.
