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Buy State Bank of India, target Rs 305: Shitij Gandhi

28 November, 2018 5:49 AM
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Traders can accumulate the stock in a range of Rs 285-290 for the upside target of Rs 305 levels and a stop loss below Rs 272, says Shitij Gandhi of SMC Global Securities.

After a sharp recovery from Rs 245 levels, State Bank of India surpassed its short and long-term moving averages and has been consolidating in a range of Rs 275-295 from the last three weeks.

On the daily charts, the stock has formed a bullish flag pattern and is on the verge of a breakout above the falling trend line of the pattern.


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