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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 on all the time frames chart. After marginal retraced from its record high, it has swiftly rebounded of late and likely to continue the positive momentum ahead. The chart pattern combined with positioning of oscillators is also pointing towards making a new record high soon. We advise initiating fresh longs in the given range.
Buy State Bank of India Ltd @ 358-361 Stoploss 350 Target 380 CMP 363.20
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