Fundamentally strong, SBI Life went through an unwarranted correction during the pandemic.We have been buying at lower levels. Now, the price is at a nice resistance zone which it had tested on 2 previous occasions and finally closed above the level today. It has been making a series of higher lows. Last few days has seen a spurt in volumes. Multiple indicators have turned positive. The stock has also moved above the Ichimoku cloud on the daily chart. ADX has also turned positive. With price action and momentum in its favour, it is Good to take a fresh long position at 781 with a target of 872 and a SL of 750
Commentaire:
Strong momentum continues in the stock. I will now up the target tp 1000/-