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SBI Rights Issue

State Bank India (SBI) today said its rights issue proposal is on course and it could happen in another 2-3 months. The country’s largest bank submitted proposal a a couple of months of ago to raise Rs 20,000 crore through a rights issue. SBI requires Rs 20,000 crore to fund its growth plans over the […]


Technical Analysis – State Bank of India

The stock surged 6.6 per cent in the last trading session, breaching its 50 and 200-day moving averages. Immediate supports for the stock are at Rs 2,729 (200-DMA), Rs 2,695 and Rs 2,640. It can decline and test its 200-DMA in the week ahead. However, reversal for the second support would be a cue to […]


Technical Analysis – State Bank of India

SBI gained 2 per cent during the week, moving higher from its strong medium-term first support level of Rs 2,720. The second key support is pegged at Rs 2,500. The stock appears to have breached initial resistance level as well as the 21-day moving average at Rs 2,800. Short-term traders can consider holding the stock […]


Buy Recommendation – State Bank of India (SBI)

Fresh investments can be considered in the State Bank of India (SBI) stock that, after a 17-per cent correction, provides a good buying opportunity. Being a market leader, SBI may continue to be a major beneficiary of the credit growth which typically picks up during the second half of the year. The bank has steadily […]


Technical Analysis: State Bank of India

The stock jumped 3.7 per cent during the previous week, recorded a new high at Rs 3,272 and is currently hovering around this level. We observe that the daily and weekly relative strength indices are featuring in the overbought territory signalling cautiousness. Reversal from Rs 3,272 or Rs 3,300 will pull the stock down to […]


Technical Analysis – SBI – 14 Feb 2010

State Bank of India (Rs 1,917.6) – SBI clung to its support at Rs 1,900 last week but it could not record a strong rebound from this level. The movement over last week suggests that the stock continues in a short-term downtrend. But as indicated last week, the stock has medium-term support at Rs 1,880 […]


Technical Analysis – State Bank of India (SBI)

SBI reversed lower from the intra-week peak of Rs 2,148 to end over Rs 130 lower. The stock declined below the 200-day moving average on Friday and has closed just below this line in Saturday’s special session. The stock has already declined to the medium term support at Rs 1,880 that occurs at 38.2 per […]