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Utilize dips to go long
Nifty has formed bearish “Harami” candle-stick pattern on the daily charts dated 4th June 2019. This pattern could lead to some profit booking from the current levels. On the downside, however, 11,800 is a strong support and can be kept as a stop-loss in Nifty longs. A level of around 11,900 or level above 12,105, which ever reaches first should be utilized to initiate longs. Positional Resistance for Nifty is seen at 12,430.
Stock recommendation:
Stock recommendation:
State Bank of India
Recommendation: BUY
Last close: Rs 352.4
Target Rs. 380
Stop-loss Rs 335
The stock price
