SBI Stock Analysis: Potential Upside to ₹1,100 – Key Levels, News & Strategy
SBI (₹816) has been consolidating in the range of ₹780-₹840 for the past three months. Watch for a breakout above ₹840 for a potential rise to ₹1,000-₹1,100.
Support & Resistance
Strong Support: ₹710
Immediate Support: ₹813.70
Immediate Resistance: ₹833.70
Weekly Trading Range: ₹793.70 - ₹853.70
Trading Strategy
Hold for medium-term gains.
Accumulate: ₹740 if dip occurs.
Stop-Loss: ₹690, move to ₹820 at ₹880.
Revise Stop-Loss to ₹900 at ₹960 and ₹980 at ₹1,040.
Exit Target: ₹1,100
Recent News & Developments
Q1 FY2025 Results: 12% YoY increase in net profit.
Credit Rating Upgrade: Improved investor confidence.
Loan Account Updates: Certain large accounts classified as fraudulent.
Home Loan Rate Hike: May affect housing demand.
Conclusion
SBI shows medium-term bullish potential. Accumulate at lower levels, watch breakout above ₹840, and track support at ₹710. Stay updated on news and technical levels.
*Disclaimer: For educational purposes only. Consult a financial advisor before investing.
