ISM Institute of Stock Market Delhi

Is State Bank of India ( NSE: SBIN) a good buy? Daily nifty Analysis 30.12.2019

Is State Bank of India ( NSE: SBIN) a good buy? Daily nifty Analysis 30.12.2019

The share market seems to be at zones that people consider too risky or too expensive to enter and with NIFTY 50 hovering near it’s all time high of 12,287.15 avid investors are looking for opportunities to gain from. Given below is the technical analysis of State Bank of India (abbreviated as SBI) -The SBI share price settled at 334.40 after the market session that ended on Monday.

After a reversal in trend and experiencing the beginning phase of the bullish rally, there occurred a runaway gap on 13th December, 2019. The runaway gap is acting as a crucial support and probably would not get filled. In light of a rising trend line and a decisive gap one can take initiate long positions in SBI, the entry price being 329-331.

Furthermore, Investors can target levels of 350 with a definitive stop loss of 324.

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