Home / Markets / Stock Markets /  SBI share price climbs to life-time high. Should you buy, sell or hold?

SBI share price: The State Bank of India (SBI) share price today climbed to life-time high despite selling pressure on Dalal Street. SBI shares today opened downside but soon attracted bulls attention and hit intraday high of 564.90 apiece on NSE, which is now its new record high.

According to stock market experts, SBI shares are in ‘uptrend’ and the stock has strong support base at 530 per share levels. They said that those who have this PSU bank stock in portfolio should continue to hold the stock for immediate target of 600 apiece levels. They said that the stock has given ‘flag pattern’ breakout at 530 levels and any dip in the stock should be seen as buying opportunity in the stock. They advised shareholders to hold the stock with trailing stop loss at 530 whereas fresh buyers can buy at current levels maintaining ‘buy on dips’ strategy till the stock is trading above 540. They advised fresh investors to maintain stop loss at 497 apiece levels.

SBI share price outlook

Expecting further upside in SBI shares, Sumeet Bagadia, Executive Director at Choice Broking said, “SBI share price has given flag pattern breakout at 530 apiece levels and now the breakout level is working as strong support for the PSU banking stock. So, those who have SBI shares in their stock portfolio are advised to hold the scrip with a trailing stop loss at 530 apiece levels. The banking counter is still in uptrend and it may soon go up to 580 to 600 apiece levels."

On why SBI share price is ascending, Ravi Singhal, CEO at GCL Securities said, “After Covid, infrastructure sector is expected to push the Indian economy and hence market is expecting huge corporate demand. As SBI is largest corporate funding bank in India, stock market has gone bullish on the stock."

Ravi Singhal of GCL Securities went on to add that SBI shares can be added in one's stock portfolio for short to medium term as the stock may go up to 644 apiece levels by the end of March 2023. He advised fresh investors to buy the stock at current levels and keep on adding the scrip till it is above 530. He advised fresh investors and other long term investors to hold the counter with stop loss at 497 for 644 apiece target.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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Asit Manohar

Chief Content Producer at Live Mint Digital Team
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