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Lokeshwarri S. K.

SBI recorded a smart breakout on Thursday and surged 6.7 per cent in two sessions. This stock has launched in to a fresh upward move, surpassing our outer target of Rs 1,088. The short-term trend has turned positive again.

The momentum indicators on the daily chart are giving fresh buy signals.

The stock has the medium-term target of Rs 1,154 and then Rs 1,215. The medium-term outlook will remain positive till the price stays above Rs 1,046. Fresh longs can be initiated for trading purpose with a stop at Rs 1,040.

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