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AbNamjoshi

Chart of the week. SBI

Long
STATE BK OF INDIA (NSE:SBIN)  
AbNamjoshi  
NSE:SBIN   STATE BK OF INDIA
Rectangle Trend Analysis Fundamental Analysis
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rectangle trendanalysis fundamental
Best of our government bank, SBI has finally given breakout out after 10 months of consolidation. Since last November the stock was taking resistance around 540. This week, however, it has managed to give a weekly closing above 540. SBI is a great Techno-Funda pick and each investor should have this stock in their portfolio. Targets as per Fibonachi are very aggressive so one should keep a deep SL and hold this share for long term view.

CMP - 553 W
Target - 620, 741, 862, 940 W
SL - 515 W
View - Medium to long term.
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