Stock of the day : State Bank of India Ltd For Target Rs. 35 - Religare Broking
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State Bank of India Ltd
* SBIN has remained under pressure after it failed to surpass the all-time high resistance level.
* It has witnessed a breakdown from a bearish pennant pattern with noticeable volumes.
* It also slipped below its medium term moving average adding further confirmation to the tone.
* We thus recommend creating shorts through the Put option.
Buy State Bank of India Ltd CMP 18.00 Range 17-18 SL 10 Target 35
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SEBI Registration number is INZ000174330
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