Buy State Bank of India, target Rs 250.0 : CapitalVia Global Research Ltd

CapitalVia Global Research Ltd has Buy call on State Bank of India with a target price of Rs 250.0. The current market price of State Bank of India is 234.2. CapitalVia Global Research Ltd recommended to keep stop loss at Rs 225.0. SBI is witnessing strong uptrend on its daily charts and is on the verge of a breakout from its short-term consolidation range. Overall, the stock is poised for further up move once it manages to cross above the level of Rs 235. The stock is trading above its both short as well as medium term moving averages of 10 and 50-days period. Traders can initiate long positions for the target of Rs 250 and keep a stop loss of Rs 225.