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Stock is forming a higher high-low on the weekly chart. This formation indicates a positive uptrend.

The stock quoted a 52-week high price of Rs 1028.75 and a 52-week low of Rs 656.1.

Dalal Street trader and investor Vivek Bajaj, who runs StockEdge, says credit will slow down when interest rates go up to obnoxious levels. "PSU banks, being the most inefficient segment of the banking sector, will definitely see corrections. But efficiently managed banks like SBI and Bank of Baroda will continue to outperform other PSU banks," he said.

"Now that they have split the shareholder and policyholder accounts, 100% profits of this non-participating pool will accrue to shareholders the excess is significant. It is Rs 5,000 crore per quarter and that would give it about Rs 20,000-25,000 crore as a profit pool and it is valued at Rs 400,000 crore. "

Analysts believe that stock-specific actions are likely to remain high at the bourses and a handful of stocks are on the verge of breakout on the technical charts.

The Nifty Realty index was trading 0.46 per cent up at 438.1.

In the Sensex pack, Sun Pharma, Reliance, Maruti, HUL and M&M were the top laggards, falling about 0.5%. Bharti Airtel, HCL Tech, HDFC, Infosys and L&T also opened with cuts. On the other hand, Axis Bank, Tata Motors, SBI and Kotak Bank opened with gains.

Further, capital expenditure and infrastructure spending is likely to see a further increase this year. Therefore, analysts are betting on industrials sectors and Larsen & Toubro is one the bets in this space.

“In 2018, I got carried away and I have paid a heavy price for that and the investors who invested with us in 2017 at the peak of that small-midcap strategy are yet to recover fully. So people may make mistakes on the valuations and growth front. It is a very tricky thing that is why equity is such a dynamic investment avenue.”

A total of 9,852 shares changed hands on the counter till 10:10AM (IST)