In the previous session, the Nifty index saw a strong positive opening and remained in a positive territory throughout the day. We have seen good buying in most of the sector stocks. Technically, the Nifty Index formed a bullish candle and closed with a net gain of 128 points. The Banking index also comfortably closed above Middle band Bollinger on the chart which indicates strength in the market. Hence, we recommend approaching the markets in a positive way. Use every dip as a buying opportunity to further up move.

Look at the below research report of ‘Stocks to Buy for – Wednesday, August 25, 2021’ before the market opens.

State Bank of India

NSE :SBIN   BSE :500112  Sector : Banks

In the last trading session, stock made a strong Bullish candle on the chart and closed with a gain of 1.98%.On 23rd August stock formed a ‘Hammer Candlestick’ pattern with a long lower wick on the chart. The pattern found at the support area indicates a potential reversal in the stock. Previous day’s candle confirmed the trend as the rally continued for the next day. Stock took an exact support of 200 EMA which is a sign of bullishness for the coming session.

 The short-term trend for SBIN looks to be positive for now. Long term buyers can also add some quantities at support levels. We can expect it to reach a target of 427/440 levels based on our analysis. This outlook is valid as long as we do not see any closing below 200 EMA support.

Check More Analysis on SBIN at: State Bank of India