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PNB, SBI: Here's why Mehul Kothari is bullish on these banking stocks

According to Mehul Kothari, traders can buy PNB on dips near the 40-mark with a stop loss of 36 for upside target of 48 in 3 - 5 weeks.

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Mehul Kothari Mumbai
BUY PNB | TARGET: Rs 48 | STOP LOSS: Rs 36

The Nifty PSU Bank index has been an outlier during the recent crack and that indicates strength in the sector. The stock has confirmed a breakout near the 41-mark from the pattern, which resembles bullish inverse head and shoulder pattern. Traders can buy the stock on dips near the 40-mark with a stop loss of 36 for upside target of 48 in 3 – 5 weeks.

BUY SBIN | TARGET: Rs 570 | STOP LOSS: Rs 500

As mentioned above about the Nifty PSU Bank index, SBI has the highest weightage in

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First Published: Jan 28 2022 | 8:47 AM IST

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