Buy State Bank of India Ltd 520 PE For Target Rs.15 - Religare Broking
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Derivative Ideas
SBIN shed 0.36% and closed at 531.35 on 8th Feb. The stock faced the supply at exactly in 540-545 zone where it faced the resistance earlier and has seen a cut of nearly 3% after that. With SBIN trading below its 5 EMA, we believe the counter is poised to test its support at 500. We recommend to go Short in SBIN with the PE option.
Strategy:- BUY SBIN 520 PE @ 7-8, SLOSS AT 4, TRGT 15.
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