Wednesday, March 23, 2016

SBI on Track to Target and Beyond

Today Indian Markets closed flat, and so did SBI. Although SBI closed a trifle in the negative territory, it still is on course to target of 202. So do not panic.

I am asking you not to panic because with global markets in some kind of uncertainty, you might find SBI touch 190 level in intra-day trade. But just don't bother. In fact if that does happen it will be an opportunity to pick up one lot of SBI April Futures.

I am asking you to pick up one lot of SBI April Futures near 190 because expiry of March Futures will take place on 31 Mar 2016. In case SBI does not fall down to 190 level then just sit tight and book profit at 202 in one lot of SBI Mar Futures that you are holding.

The other scenario is if SBI opens on Monday with a gap up and closes near 202. Then be sure that SBI is going places. Then we may even see SBI trade at 220 on expiry day.