Stock for long term- SBI is one of the best stock to be in anyone’s portfolio for long term investment objective. State bank of india is the biggest bank in Indian banking sector and it is still one of the most trusted bank as well. In the last few years, SBI has also revamped its customer service and banking practices to accommodate itself in the rising competition from the private sector banks. SBI had got biggest network in the country and it is still the choice for many banking customers. it is ideal stock for long term.
24 May 2021 SBI stock update
411.10
It is still a very good stock for long term.
Stock for long term should be stable, competitive and reliable. SBI has got all of these qualities. SBI has achieved a 52 week high of Rs 3515 on NSE. Since then SBI has corrected a lot and it is currently trading at Rs 1951.35 at NSE. This is a very good time for long term investor to acquire this stock. Though things are uncertain for interest rate sensitive sectors and its last quaterly results were a bit less than the expectations, but they do not make any significant damage to stock’s quality for long term.
SBI has been falling consistently since November last year and most of the experts believe that it has already bottomed out and now there is not much space for it to fall from here. Long term charts are also making similar noise. Stocks like SBI often do not provide opportunity like this. It is expected to move back to its glorious days of Rs 2500-Rs 3000 over a period of 1 year to 2 year from now.
But it is important to understand that short term scenario is still not clear and its better to go for long term. If SBI falls from here, one can buy more and hold it for next 1-2 year time frame.
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Thanks for writing such an easy-to-understand atircle on this topic.