SBIN--Rally Base Rally or Reversal??A strong bullishness is observed in this stock....
if this will continue then a rally base rally is observed....
otherwise reversal chances are more...
keep safe here...
SBIN trade ideas
SBI - 700 TARGET DONEWE ENTERED ON JAN 3RD 2024
Can Enter again at CMP - 630
If falls You need to average at 600 level
We have already Entered at 552 level
Target - 700,900+
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SBI S/R for 8/2/24Support and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities.
Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities.
Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level.
Keltner Channel:
The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions.
Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend.
Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend.
Disclosure: I am not SEBI registered. I just wanted to let you know that the information provided here is for learning purposes only. Please consult your financial advisor before making any decisions. Tweets neither advice nor endorsement.
Wait for SBIN BreakoutOn the weekly time frame, a noticeable triangle pattern has recently broken out. Counting from the bottom before the breakout, we observe waves 1, 2, 3, and the ongoing 4th wave. It is anticipated that SBIN will dip to 608-605 before initiating a breakout, setting the stage for the impulse 5th wave. The initial target for this 5th wave is projected to be 673.
SBIN_05FEB2024State bank of India. moving in range . Breakout may come anytime. till that time, its traders game.
Breakout in SBINA beautiful ascending channel pattern can be seen in SBIN. It did breakout, retraced and then fired. we can see some more move
SBI Long Term Forecast (Neowave)Hello Everyone
This is an long term forecast of sbi bank, if you have any query related to it please leave a comment.
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EXPANDING TRIANGLEThe expanding triangle, as its name suggests, is a triangle, but it differs from the other 3 types of triangle patterns which we covered in the previous chapter.
All triangle patterns consist of 2 lines, but in the previous 3 triangles (symmetrical, ascending, descending), the lines were converging, whereas for the expanding triangle, the lines are diverging.
SBI S/R for 2/2/24Support and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities.
Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities.
Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level.
Keltner Channel:
The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions.
Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend.
Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend.
SBI next possible demand zone 611-610! SBIN possibly have to move 2% more to reach the demand zone to get proper pull back! lets see
NOTE: I am not a professional investor; I have only two years of experience in stocks and investing. Please refrain from making any trades based on my chart analysis, as this is solely for community learning purposes.
Strong Buy SBIN cmp 622, Target 670++ within 3-5 trade sessions.State Bank of India is a Fortune 500 company. It is an Indian Multinational, Public Sector banking and financial services statutory body headquartered in Mumbai. It is the largest and oldest bank in India with over 200 years of history.
Branch Network
Presently, the bank operates a network of 22,219 branches and 62617 ATMs across India. It also operates 71,968 business correspondent outlets across India.
Market Share
The bank has a market share of 22.84% in deposits and 19.69% share in advances in India. It has a strong customer base of 45 crore customers.
Loan Book
Retail loans account for 39% of the loan book, followed by corporate (37%), SME (14%) and Agriculture (10%). The bank has a well-diversified loan book exposed to various sectors. Top sectors include home loans (23%), infrastructure (15%), services (12%) and agriculture (10%). 75% of the corporate advances are rated A and better ratings from rating agencies. 38% of the corporate book accounts for PSUs & Govt. departments.
International Business
The bank has a global footprint with a network of 233 branches/offices in 32 countries. It has presence in USA, Canada, Brazil, Russia, Germany, France, Turkey, Australia, Bangladesh, Nepal, Sri Lanka and other countries. Presently, Overseas business accounts for 3% of total deposits and 13% of total advances.
Government Business
SBI has always been the banker of choice to the government of India and is the market leader in government business. It had turnover of 52,50,000 lakh crores and commissions of 3,700 crores from government business in FY20.
Financial Inclusion Business
The bank has 71,000 BC outlets which has primary focus on financial inclusion customers. The bank accounts for 40% of all PMJDY accounts i.e. more than 12 crore accounts. Presently, the deposits from PMJDY accounts are 42,500 crores i.e. 1.2% of total deposits of the bank.
Digital Metrics
Increasing digitization resulted in 40% of asset accounts and 60% of liability customers added via digital channels in FY21.
Subsidiaries Operations
The bank owns various subsidiaries which are engaged in related business activities :-
1. SBI Capital Markets Ltd (100% stake)
2. SBI DHFI Ltd (72% stake)
3. SBI Cards and Payment Services Ltd (69% stake)
4. SBI Life Insurance Co. Ltd (57.6% stake)
5. SBI Funds Management Pvt Ltd (63% stake)
6. SBI General Insurance Company Ltd (70% stake)
KEY Ratios (Q1FY24)
Capital Adequacy Ratio - 14.50%
Net Interest Margin - 3.34%
Gross NPA - 4.77%
Net NPA - 1.23%
CASA Ratio - 45.15%
Book Value ₹ 402
Price to book value 1.55
Bank's performance:
Quarterly net profit of 14,330 crores.
Operating profit for Q2FY24 at 19,417 crores.
RoA for H1FY24 at 1.10%.
RoE for H1FY24 at 22.57%.
Net interest income increased by 12.27% YoY.
Non-interest income increased by 21.59% YoY.
Credit growth:
Domestic advances grew by 13.21%.
Driven by SME advances, retail personal advances, and agri advances.
Corporate segment advances grew by 6.62%.
Asset quality:
Gross NPA ratio improved by 97 bps YoY to 2.55%.
Net NPA ratio improved by 16 bps to 0.64%.
PCR improved by 39 bps YoY to 91.93%.
Future outlook:
Credit and deposit growth expected to be around 16-17% in FY24.
Margins may see a slight compression of 3-5 bps due to increased deposit rates.
Aims to maintain credit growth momentum by disbursing pending loans and converting proposals into sanctions.
SME loans:
Witnessed healthy growth in SME book.
Initiatives taken to improve infrastructure for SME lending.
Expects to reach target of 4 trillion in SME loans by FY24.
Unsecured loans:
Unsecured loan portfolio, including Xpress Credit, has a low GNPA ratio of 0.69%.
Resilient in terms of asset quality.
Digital initiatives:
Increased traction in cross-selling business through YONO.
Sourced 61% of savings bank accounts digitally.
Launched "YONO for Every Indian" and witnessed growth in digital loan portfolio.
Capital adequacy:
Well capitalized with a capital adequacy ratio of 14.28% and CET-1 ratio of 9.94% which is well above regulatory requirements. Expects CET-1 ratio to improve further with ploughing back of profits.
Conclusion:
SBIN stock price has given a breakout multiple times along with the strong volumes and today it has retested the breakout zone, which is a strong buying point for a minimum target of 670 in 3-5 trading sessions. Fundamentally, stock can has an intrinsic valuation of Rs.800 so there is an enough cushion and momentum on upside.
SBIN--Resistance becomes Support??After a strong break above the major resistance,now price is again at the same zone.
If this resistance acts as support,this stock will again be bullish.keep safe from this zone.
If this failed to push upside will observe a continuous down momentum in this stock.
SBI S/R for 29/1/24Support and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities.
Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities.
Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level.
Keltner Channel:
The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions.
Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend.
Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend.
SBI S/R for 25/1/24Support and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities.
Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities.
Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level.
Keltner Channel:
The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions.
Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend.
Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend.
SBI S/R for 24/1/24Support and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities.
Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities.
Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level.
Keltner Channel:
The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions.
Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend.
Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend.
State Bank of India Weekly Chart Analysis State bank of india is trading in a range from last 8 weeks. if stock gives a breakout above 660 then we will take a long position with stop loss of 618
SBIN Decoding the Symmetric Triangle: Will It Soar or Plunge?The Symmetric Triangle Resurfaces
A Brief Recap:
For those keeping a close eye on market trends, the symmetric triangle is a familiar sight. Characterized by converging trendlines, this pattern suggests a period of consolidation before a potential breakout. In recent times, it has once again manifested on the charts, creating a sense of anticipation among traders.
Technical Analysis:
Analysts are dissecting the pattern through meticulous technical analysis, scrutinizing key support and resistance levels within the triangle's confines. The historical significance of this formation as a precursor to significant price movements intensifies the scrutiny, making it a crucial indicator for predicting future market direction.
The Two-Faced Dilemma: Up or Down?
Bullish Scenario:
Optimists argue that the symmetric triangle's formation signals a potential upward trajectory. Historical data supports the notion that breakouts from such patterns often result in substantial upward movements. Positive macroeconomic indicators and favorable market sentiment further fuel the bullish thesis, painting a picture of a market poised for ascent.
Bearish Scenario:
On the flip side, skeptics are wary of the bearish undertones inherent in the symmetric triangle. They point to the possibility of a downward breakout, citing external factors such as geopolitical tensions or economic uncertainties that could trigger a selloff. A cautious approach and risk mitigation strategies are becoming increasingly popular as investors brace for potential downside risks.
The Waiting Game:
As the market hovers within the symmetrical confines, traders find themselves playing a waiting game, monitoring every tick and fluctuation. The impending breakout is akin to a suspenseful climax, with the market's next move holding the key to profitable opportunities or unforeseen challenges.
Conclusion:
The symmetric triangle's reappearance on the charts has injected a renewed sense of excitement and uncertainty into the financial landscape. While the technical analysis provides valuable insights, the market's unpredictable nature demands vigilance and adaptability. As traders navigate the symmetrical maze, the ultimate question remains: will the market soar to new heights, or will it take a plunge into uncharted territory? Only time will unveil the answers, making this a trend to watch closely in the coming days and weeks.
The Bank that India banks on SBI, looking towards an uptrend.State Bank of India is an Indian multinational public sector bank and financial services. SBI is one of premier Indian bank which is also a Public Sector bank.
The positive aspect of the company is Zero Promoter pledge, Book value of the share increasing, FIIs increasing stake in the bank, Annual net profits are increasing, revenue of the bank is also increasing. The negative aspect of SBI is Mutual Funds are decreasing and there is a noted decrease in net cash flow of the company.
Entry in the stock can be taken after closing above 636. Targets for SBI will be 646 and 659. Long term targets in SBI will be 671 and 688. Stop loss in SBI can be maintained at a weekly closing below 588.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
SBI S/R for 24/1/24Support and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities.
Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities.
Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level.
Keltner Channel:
The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions.
Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend.
Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend.
Disclosure: I am not SEBI registered. I just wanted to let you know that the information provided here is for learning purposes only. Please consult your financial advisor before making any decisions. Tweets neither advice nor endorsement.
SBINSBIN has broke the weekly resistance level and retested successfully.
Good opportunity to buy for swing or long term.
SBI new highSbi may have completed or going to complete 4th wave near 618-608 zone..
Would look to buy on any reversal for targets of 660-690..
Aggressive stop loss can be taken as 618 below closing or 608 below for normal view
Also bullish abcd harmonic is made at 618
price & Volume says SBI is retracing fastPrice now trapped under the RED TrapZone and UMVD also shows selling in the market. So TREND NOW is lower wait for green TrapZone and green UMVD to signal up moves
