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It was an uneventful week for SBI. The stock scarcely moved in either direction and closed unchanged for the week. Volumes too plunged in this counter displaying investor disinterest. The sell signals in the momentum charts are a concern. But there could be another spurt upwards to Rs 1,596 or Rs 1,637. Short-term investors can hold the stock with a stop at Rs 1,520.

The medium term outlook stays positive as long as the stock trades above Rs 1,390. Since this seems to be the third part of the move from the April low, the medium term target remains at Rs 1,800.

Lokeshwarri S. K.

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