State Bank of India launched in to a surprise up-move last week and closed with 7 per cent gain.
Immediate resistances for the stock are at Rs 1,205 and then Rs 1,245.
Short-term traders can book profit on reversal from either of these levels.
However, if the rally continues, the next target would be Rs 1,350.
Supports in the week ahead would be at Rs 1,140 and then Rs 1,100.
We adhere to a neutral medium-term view for the stock.
The stock needs to get firmly past the band between Rs 1,350 and Rs 1,400 before the medium-term outlook turns positive for the stock.
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