SBI shares become rocket before Q4 results, 52-Veik’s close to high

State Bank of India: Shares of State Bank of India are also trading with a lead of about 3 percent like many other banks on Monday, April 21, Monday. With this, the Nifty Bank Index has reached the record high. This is the fifth consecutive day when the shares of the State Bank are seeing a boom. During this time its stock has increased by more than 10.5.

However, after the Nifty Bank reached a low of 47,702 on March 11, SBI’s stock performed less than the highest profit earning banks. SBI shares are trading at Rs 822.5 with a lead of 3.1 percent on Monday. The stock has now reached its 52-week high level of Rs 912.

Investors focus on Q4 results of SBI

SBI is the second lowest profit -making bank on the index with a return of 12.3 percent. During this time only Federal Bank’s return was 11 percent. On one hand, private sector banks like HDFC and ICICI earned well with great profits. Their market valuation increased. Now Sara’s entire focus is on State Bank of India, will it also have a good performance in the March quarter like other private sector banks? However, the bank has not yet given information about when the board meeting will be held to announce the results.

Bank shares are giving positive returns

This is the second month when SBI shares have gained an edge. Earlier in March, there was an increase in the bank’s stock up to 12 percent. With this, there was a break on the fall for three months. SBI shares have given positive returns in the last four years. Initiatives are now confident of the chances of loss due to the rise in its shares in March and April. SBI shares are trading with an increase of 3.5 percent year after year.

Bank shares received so much rating

With an edge on Monday, SBI is trading above its 200 -day moving average, which was earlier at 797 levels. Its relative strength index (RSI) is ‘Overbott’, which is currently 69. RSI reading above 70 means that the stock is in the ‘Overbott’ area. 40 out of 50 analysts have given the bank ‘BUY’ rating. Nine has given a ‘Hold’ rating. While one has given the stock a rating of ‘Sell’. Choice Broking has kept SBI’s target price of Rs 1,102, while foreign brokerage CLSA has the highest target price of Rs 1,050 on this stock.

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