SBIN: INVEST IN ONE OF THE UNDERPERFORMING SECTORS.
Reason why I am very very bullish on "SBIN"
1) I have my personal Bank account with SBIN.
2) SBIN has formed acceding channel pattern, the stock has been trading within the channel since 2007, finally gave a BO with huge volumes.
3) SBIN has Strong Balance sheet.
4) SBIN profitability does very well as the economic cycle turns.
5) The credit cycle has just turned. Going ahead, there will be a lot of demand for money. The cost to income ratio of public sector banks is going to come down. There will be pricing power as there will be demand for money.
6) Morgan Stanley and notable brokerages have retained overweight rating on this stock.
According to me,
SBIN TARGET: 650
HORIZON: 6M
Reason why I am very very bullish on "SBIN"
1) I have my personal Bank account with SBIN.
2) SBIN has formed acceding channel pattern, the stock has been trading within the channel since 2007, finally gave a BO with huge volumes.
3) SBIN has Strong Balance sheet.
4) SBIN profitability does very well as the economic cycle turns.
5) The credit cycle has just turned. Going ahead, there will be a lot of demand for money. The cost to income ratio of public sector banks is going to come down. There will be pricing power as there will be demand for money.
6) Morgan Stanley and notable brokerages have retained overweight rating on this stock.
According to me,
SBIN TARGET: 650
HORIZON: 6M