Revised target for SBI to 2600-2700: Rajat Bose

Rajat Bose, rajatkbose.com in an interview with ET Now talks about SBI.

Your view on SBI?

I am definitely included in that list of your technical analysts who suggested that over a period of one year State Bank would move up to 3000 level but just to give you a clarification technical analysis represents collective wisdom and in this collective wisdom this kind of result was never anticipated so this was not there.

Although there had been some signs of weakness on the charts of State Bank but as I said quite a few times that I am not expecting it to fall below 2400. As of now we have to revise that upside target of 3000 plus to something like 2600 to about 2700 because that would now act as a major supply zone even if there were to be a recovery rally.