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20 Sep 2009

Banking Stock of India Worth Accumulating for Short Term to Make Money

State bank of India has shown a remarkable breakout and that is the reason Nifty bankex has also shown temendous gains. If the stock is able to sustain above Rs 1949 level than one may see stock rising to the levels of Rs 2155-2315-2390-2550.

As a strategy for investment one can go long in this share as and when its price hovers above the level of Rs Rs 2155 which is a confirmation that the stock is likely to zoom to the levels of Rs 2550. Some caution can therefore be exercised until the stock moves above Rs 2155. One can be long in the stock till the time the stock does not break the level of Rs 1949 on the lower side with the volumes.

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