EBM News
EBM News

Option Strategy State Bank of India Ltd by Religare Securities

State Bank of India Ltd

Mostly PSU counters are trading under pressure and SBIN is no different. After its failed attempt to cross its resistance barrier around 308 levels, it witnessed steep fall from thereon and now struggling around the support zone of moving averages ribbon and likely to see fresh decline ahead. Traders may initiate fresh shorts through Put option in the given range.

Recommendation

BUY 280 PE State Bank of India Ltd @ 5-6 Stop Loss 3 Target 12 CMP 6.80.