Get started
STATE BANK OF INDIASTATE BANK OF INDIASTATE BANK OF INDIA

STATE BANK OF INDIA

No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Forecast Seasonals Bonds

SID trade ideas

SBI at SupportSBI's stock has been under consistent pressure after Q1 earnings. It is now trading at long term channel support and at historically low valuations. For people unaware of the fact, State Bank is India's LARGEST PROFIT MAKING company. Yes, you heard it right. SBI has reported net profits more than the likes of Reliance Industries and HDFC Bank for Q1. As a matter of fact, the share price is quoting at the same valuations of April 2020 (after huge fall due to Corona) in terms of Price to Earnings. Keep the stock in your study list in the range of Rs. 555-565. Study for targets of 620 and 680. Note: NONE of my posts are BUY/SELL recommendations. This is just to spread awareness and emphasize the importance of learning before taking any financial decision. Do your own research or take an expert advice before making a financial decision.
NSE:SBINLong
by Gaurav_Singh_5705
SBIN S/R for 19/9/24Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. 20 EMA (Exponential Moving Average): Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:SBIN
by zenthosh