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30 Nov 2008

Banking stock likely to be benefitted by RBI policies

1. SBI enjoys strong support at the levels of Rs 1000 and this level can be used to buy this stock with a stop loss as 949. Stock is likely to fall to the level of Rs 1000.

2. On upside stock faces resistance at Rs 1,246 and then Rs 1,375. As a long term strategy enter in this stock above the level of Rs 1,375 to avoid stagnation. Stock is likely to be range bound with in a broad range of Rs 1,000 and Rs 1,600.

3. SBI is likely to get benefitted by Reserve Bank of India policies in coming days. So keep watch on this stock.

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