Here's why Mehul Kothari recommends buying SBI, Infosys

According to the technical analyst from Anand Rathi, both the stocks have taken support at historic levels and the RSI is showing an impulsive behavior.

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Mehul Kothari Mumbai
BUY
SBIN
TARGET: Rs 500
STOP LOSS: Rs 462

The stock has taken support near its historical levels of Rs 440 and then rebounded along with RSI displaying impulsive behavior at 30 levels which indicates a possibility of an upside.

BUY
INFY
TARGET: Rs 1,560
STOP LOSS: Rs 1,508

The stock has hit previous historic top of Rs 1,450 which was made on April 09, 2021 & taken support on that. The weekly RSI is displaying impulsive behavior at 30 levels which indicates a possibility of an upside.

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).

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First Published: May 31 2022 | 7:33 AM IST

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