4 Week Focus : SBI Life Insurance Ltd For Target Rs.2075 Motilal Oswal Wealth Management
SBI Life Insurance Ltd
Buy SBI Life Insurance Ltd CMP 1852 SL 1740 TARGET 2075 Risk : 6% Reward : 12%
* The stock has consolidated in a range since last five months and has formed a strong support base above Rs. 1750.
* Prices have now started forming a ‘Higher Top Higher Bottom’ structure hinting at a start of an uptrend post this consolidation.
* The 50 DEMA is now acting as immediate support and the RSI oscillator is hinting at a positive momentum.
* We advise traders to buy the stock at CMP Rs. 1852 with stop loss below Rs. 1740 for potential target around Rs. 2075 in 4 weeks.
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