SBI's stock has been under consistent pressure after Q1 earnings.
It is now trading at long term channel support and at historically low valuations.
For people unaware of the fact, State Bank is India's LARGEST PROFIT MAKING company. Yes, you heard it right. SBI has reported net profits more than the likes of Reliance Industries and HDFC Bank for Q1.
As a matter of fact, the share price is quoting at the same valuations of April 2020 (after huge fall due to Corona) in terms of Price to Earnings.
Keep the stock in your study list in the range of Rs. 555-565.
Study for targets of 620 and 680.
Note: NONE of my posts are BUY/SELL recommendations. This is just to spread awareness and emphasize the importance of learning before taking any financial decision. Do your own research or take an expert advice before making a financial decision.
It is now trading at long term channel support and at historically low valuations.
For people unaware of the fact, State Bank is India's LARGEST PROFIT MAKING company. Yes, you heard it right. SBI has reported net profits more than the likes of Reliance Industries and HDFC Bank for Q1.
As a matter of fact, the share price is quoting at the same valuations of April 2020 (after huge fall due to Corona) in terms of Price to Earnings.
Keep the stock in your study list in the range of Rs. 555-565.
Study for targets of 620 and 680.
Note: NONE of my posts are BUY/SELL recommendations. This is just to spread awareness and emphasize the importance of learning before taking any financial decision. Do your own research or take an expert advice before making a financial decision.
Comment:
The target has been achieved handsomely.