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The stock's attempt to stage a comeback has been thwarted by the RBI. SBI opened with a downward gap on Monday morning that continues to remain open.

The medium term outlook is neutral. The stock can oscillate between Rs 850 and Rs 1,100 for a few weeks. A close beyond Rs 1,100 is needed to make the medium term outlook positive.

The short-term outlook is, however, positive. If the stock sustains above Rs 915 in the early part of next week, there can be a rally to Rs 1,076 or Rs 1,175 in the medium term. Traders can play long with a stop at Rs 910.

Lokeshwarri S. K.

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