State Bank of India
Friday, 2 December, 2022
Stock: State bank of India
Symbol: SBIN
CMP: 607
Current condition:
Currently Stock is in strong uptrend.
It has made all time high of 622.7 on 07/November/2022, and still very close to all time high level.
613 is a big resistance, if stock closed above 613 level on closing basis at least for 2 week is a good indication for buyers, or bulls,
Next target could be 667 with in the 2 weeks.
550 is the nearest support levels also act as bottom level for the short-term.
Selling strategy:
For trader:
sell short @ CMP (607) with the stop loss of 613 on closing basis for the target of 550
Selling price = 607
Stop loss = 613 (closing basis)
Target = 581, 556, 538
Support levels:
Support-1 | 550 |
Support-2 | 520 |
Support-3 | 462 |
Resistance levels:
Resistance-1 | 667 |
Resistance-2 | 689.7 |
Resistance-3 | 728 |
Conclusion:
For Small investor:
For existing share holder hold your existing position with stop loss of 520.for fresh buying wait for around 10 days for clarity & buying level is 550 it is a good level for accumulation.
Buy SBIN around 550 (for very safe play level is 520) for the target of 600, & 613 short term and stop loss is at 500.
Buy = 550
Stop loss = 520 or 500 according to your risk appetite.
Target= 600, 613 and 665
For high-risk investor:
Hold your current position with the stop loss of 550, 520.
Fresh buy position can be initiate,
Buy @ CMP = 607
Stop loss =520
Target = 622, 641, 668.
COMPANY OVERVIEW:
State Bank of India (SBI), founded in 1806 as the Bank of Calcutta, stands as India's oldest and largest commercial bank. Over the years, it underwent several transformations and mergers, eventually evolving into the present-day SBI, a behemoth in the Indian banking sector.
Historical Evolution:
The Bank of Calcutta, later renamed the Bank of Bengal, was one of the three presidency banks established during British rule in India. In 1921, it merged with the Bank of Bombay and the Bank of Madras to form the Imperial Bank of India.
In 1955, the Imperial Bank was nationalized and rebranded as the State Bank of India under the State Bank of India Act. This transformation marked a significant milestone in the Indian banking sector, with SBI becoming the largest commercial bank in the country.
Key Features and Scale:
Domestic and International Presence:
Technology and Innovation:
Financial Inclusion and CSR Initiatives:
Challenges and Adaptability:
Leadership and Vision:
