RK Global Shares & Securities recommends buying State Bank of India (SBI) above Rs 2,540 for a target of Rs 2,620 with stop loss placed on daily closing basis at Rs 2,500 from tenure of 3-4 days.
''The stock is in strong up-trend since several weeks. It closed at highest point of the day with a white body candle just above crucial support level of Rs 2,500. RSI is on strong up trending mode along with trend following indicator MACD and ADX. This suggests the stock is expected to make higher high in coming sessions, so we recommend the stock as `strong buy` for the target of Rs 2,620.''
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