Price and trend forecast of SBIN for Tomorrow, Weekly, Monthly
State Bank of India
Symbol: NSE:SBIN
ISIN: INE062A01020
782.50
As on 2024-09-06
SBIN's Today's Performance
State Bank of India started the day by opening at 811.50 today 2024-09-06. Its shares reached a high of 812.90 and dipped to a low of 777.00 in intraday. When the markets closed, SBIN’s stock price settled at ₹782.50 per share. Also check out its key support and resistance levels.
SBIN Buy/Sell Targets
Tomorrow, sell SBIN when its price reaches ₹ 782.50 with a stop-loss order at ₹ 790.61. You can set the target price as ₹ 774.39 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.
In the sections below, we will discuss detailed share price target of SBIN for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.
Important Down levels for SBIN
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 805 |
| Tomorrow Down Target 2 | 827 |
| Tomorrow Down Target 3 | 841 |
Important Levels for SBIN
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 769 |
| Tomorrow Up Target 2 | 755 |
| Tomorrow Up Target 3 | 733 |
Based on where the stock opens tomorrow, if SBIN opens on a positive note, our first target will be ₹805. If Target 1 is achieved, we will aim for Target 2 which is ₹827.
But if SBIN falls below the average value of ₹790.80, you can enter a sell side position with target number 1 - ₹769 and second target - ₹755 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.
Daily Volume chart of SBIN
Looking at SBIN, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.
In terms of its price, SBIN has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for SBIN is moderate bearish.
Tomorrow's Volume based share price Forecast for SBIN
SBIN's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -57%.
Reversal detection for SBIN
SBIN may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹818 in morning tomorrow
| Target 1 tomorrow | 805 |
| Target 2 tomorrow | 813 |
| Target 3 tomorrow | 827 |
Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.
Combine this trend forecast with SBIN's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.
Based on where the stock opens tomorrow, if SBIN opens on a positive note, our first target will be ₹804.60. If Target 1 is achieved, we will aim for Target 2 which is ₹826.70.
But if SBIN falls below the average value of ₹790.80, you can enter a sell side position with target number 1 - ₹768.70 and second target - ₹754.90
SBIN's Weekly Targets
| 1st Up Target | 813.30 |
| 2nd Up Target | 844.10 |
| 1st Down Target | 764.35 |
| 2nd Down Target | 746.20 |
As the week for SBIN ended on bearish sentiments, we can expect further continuation of this sentiment. SBIN's initial target will be 813.30 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 764.35 in the upcoming week.
Weekly OHLC Values
| Open | 817.30 |
| High | 825.95 |
| Low | 777.00 |
| Close | 782.50 |
Week for SBIN started with an open price of 817.30, and the close was at 782.50. SBIN reached the highest of 825.95 and dipped lowest up to 777.00 last week. This indicates a bearish sentiment for the week.
SBIN full month swing targets
| Monthly Up Target 1 | 862.25 |
| Monthly Up Target 2 | 893.05 |
| Monthly Down Target 1 | 715.40 |
| Monthly Down Target 2 | 648.30 |
Targets of ₹862.25 can be expected to be reached in the coming month. Once SBIN achieved this target, we can aim for the next upside target of ₹893.05.
SBIN if fails to hold upside, down targets of ₹715.40 and ₹648.30 can be achieved by end of this month.
For complete three weeks if SBIN is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.
Related Stocks in the Same Sector as SBIN
| Symbol | Name | Industry |
|---|---|---|
| HDFCBANK | HDFC Bank Limited | Banks - Regional |
| ICICIBANK | ICICI Bank Limited | Banks - Regional |
| SBIN | State Bank of India | Banks - Regional |
| LICI | Life Insurance Corporation Of India | Insurance - Life |
| BAJFINANCE | Bajaj Finance Limited | Credit Services |
Summary
SBIN is expected to reach the target of 804.60 in tomorrow's trading session.
After achieving the initial target in SBIN, we will aim for higher targets of 826.70 tomorrow.
However, if SBIN starts to trade below ₹790.80, then we will shift our focus to the sell side and aim for down targets of 768.70 and 754.90.