SBI share price rises as three-year lock-in on Yes Bank ends next week

According to stock market experts, this is a boom in State Bank Of India The shares are due for discussion about the largest Indian commercial bank trimming stake in Yes Bank after the three-year lock-in ends on March 6, 2023, i.e. next week Monday. He said SBI’s fundamentals are strong and its margins are expected to continue improving during the rising interest rate regime, but today’s rally is purely speculative and Monday’s opening will be critical for both SBI and Yes Bank stocks .

Speaking on the reasons behind the rise in SBI share price today, Avinash Gorakshkar, Head of Research, Profitmart Securities, said, “SBI shares are rising as the market is trading lower after SBI’s three-year lock-in in Yes Bank ended on Monday.” There is talk of doing this. Due to this the share price of Yes Bank declined even today. However, in my opinion, SBI took over Yes Bank to get it out of debt crisis and in the last three years, Yes Bank The position of the bank has improved but it is still not out of trouble. Secondly, there are many other stakeholders involved in the decision to book profit in Yes Bank or offload stake in Yes Bank. So, even if I get locked in for three years There is expected to be little impact on the health of Yes Bank and SBI.-In ends on Monday.”

Santosh Meena, Head of Research Swastik Investmart “Technically, it formed a double bottom formation at the psychological level of 500. On the upside, the range from 570 to 580 is an immediate supply zone; above this, we can see new bullish momentum reaching highs around 630.” One can speculate. The long-term structure is quite positive, so I would not be surprised if SBI reaches four digits in the next two to three years.”

Talking on SBI share price chart pattern, Ganesh Dongre, Senior Manager – Technical Research, Anand Rathi said, “SBI share price has hit the lowest level. 520 each level and the stock is currently from 520 570 range. once the stock closed up 570 level and sustains above this level, then we can expect this banking stock to touch 630 more 660 level in short to medium term. Hence, those having this stock in their portfolio are advised to hold the stock with stop loss 520 while fresh purchase is advised only above 570 level after the stock closed above 570 and sustained above this level.

But yes bank On the share price scenario, Ganesh Dongre of Anand Rathi said, “Yes Bank share price has found strong support 15 per share level and making it a good buying area since 15 16 range. Those who have this stock in their portfolio can maintain at stop loss 15 And every time he comes, keep collecting from 16.50 16 each level.

“Yes Bank shares are expected to be in focus as three-year lock-in ICICI Bank, HDFC bank, axis BankIDFC Bank etc expiring on March 13, 2023,” said Avinash Gorakshkar of Profitmart Securities.

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