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Stock of the day : State Bank of India For Target Rs. 23 - Religare Broking
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State Bank of India
* After a steady up move, SBIN was consolidating in a range around its record high.
* It has witnessed a breakdown from the brief consolidation, with noticeable surge in volumes.
* It has also slipped below the short term moving average indicates weakness to extend further.
* We thus recommend creating shorts through the Put option.
BUY 625 PE State Bank of India CMP 12.25; Range 11-33; SL 08; Target 78
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SEBI Registration number is INZ000174330
