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Religare Super Ideas
State Bank of India (SBIN)
Unlike other PSU banking majors, SBIN has been trading strong while holding firmly above the support zone of major moving averages. It has recently tested crucial support zone around 290 and rebounded sharply thereafter. The chart pattern combined with positioning of oscillators is pointing towards strong up move in near future. We advise initiating fresh longs in the given range.
BUY State Bank of India Limited @ 309-313 Stop Loss 302 Target 330 CMP 314.65
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