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Stocks hardly follow the script that is written for them. But, SBI did precisely that last week. It reversed from our weekly support of Rs 910 and went on to our upper target of Rs 980. There is a return of momentum in the daily chart. The immediate short-term target is Rs 1,008. Short-term traders should book some profits between Rs 1,008 and Rs 1,015, as selling is expected to come in at this level. The long-term outlook is, however, very positive. Investors should hold on to this stock and accumulate on declines with a stop at Rs 870.

Lokeshwarri S. K.

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