SBI has given a close at 2611.50. This stock has
given a good up move after a short consolidation. This stock has given a trend
line breakout as well as a very short term rounding bottom kind of pattern,
which is a bullish pattern. These things can be clearly seen in the chart given
below. One can initiate
a long position in this stock for the targets of 2645
and 2680. A close above 2680 might take this stock to further higher levels. A good
closing basis Stop Loss can be maintained at today’s low i.e. 2573. Needless to
say that those who are not comfortable with F&O, can very well initiate
position in cash segment as well with a small quantity as per their appetite
and please adjust the targets and Stop Loss according to cash segment.
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