A near term short term target of Rs. 195 in few days along with final target of Rs. 200 can be seen in near Future. The concept is clearly based out on Fibonacci Retracement. SL can be maintained at Rs. 175
In the ongoing market volatility, select life insurance companies largely remained resilient and outperformed the markets.
SBI Life is one such stock, which has largely consolidated above its highest Put base of 900 amid increased pick-up in
delivery volumes. Th Stock can see 980 levels in coming few weeks.
Considering the extreme Summer conditions yet to come in India. Also the highlighted portion shows that the Stock is currently into consolidation phase. So with 10-20 Days time Horizon a target price of 1000 with stop Loss at 910. and for up to 3 months holding period we can se a rally up to 1100-1125 range by mid of July.
As the India is witnessing a strong second Wave of Covid19 and also looking into recent trends of NIFTY. A Major Support of NIFTY holds at 14000 levels. If the 14000 Levels breaches then the next major support lies at 13600 and 13200 levels.