Rahul Mohindar of Viratechindia said that there is a possible downside in SBI’s stock value.
He said that the stock will experience other downside of Rs 100-150 with a short-term to medium-term viewpoint.
Mr. Mohindar stated, “In SBI, there is a visible short opportunity clearly because the stock looks much overstretched, it has reacted from more than Rs 1700 levels on its way down. So, I think technically we would have achieved almost all targets on both shorter-term and longer-term counts.”
He doesn’t believe that the SBI stock can do much on the positive aspect.
As on Jul. 20, 2007, the credit paid out by listed commercial banks developed 23.7% (Rs 3,663.49 billion) on a year-on-year basis that is beneath the increase of aggregate deposits of 24.4%.
State Bank of India jumped 2.87% to Rs 1592.75 on reports that it is planning to make a holding company for its mutual funds and life insurance business.
About 11.24 lakh shares of the scrip were traded on the BSE counter. The scrip showed an average daily volume of 5.97 lakh shares within the last three months.
a cut in interest rates on one-two year deposits to 8% from 8
State Bank of India jumped 2.87% to Rs 1592.75 on reports that it is planning to make a holding company for its mutual funds and life insurance business. 
bank climbed up 7.70% to Rs 768.05 and led BSE
