SBIN has made a new ATH and is consolidating for a likely strong upmove.
- Coming few weeks it may consolidate between 371 to 416 range.
If in coming 4-6 weeks manages to sustain above 371 - 415 range, then most likely targets are 458, 523, 580
Fair possibility of 650 exists if the trend remains intact.
- Currently seems to be leading the banking pack.
looks like a good candidate for a strong move ahead.
- Below 320-294 range, the upmove may take longer and not sustain.
Large Cap, may likely take more time for its moves.
Move has possibility of getting disrupted due to RBI / Govt policies
Considering todays volume, SBI most likely gunning for a target of 458 (7% from CMP).
Tomorrow is crucial and we need a strong weekly closing to keep this momentum going.