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Price and trend forecast of SBIN for Tomorrow, Weekly, Monthly

State Bank of India

Symbol: NSE:SBIN

ISIN: INE062A01020

766.30

As on 2024-04-12

526.00 (52W Low) 793.40 (52W High)

SBIN's Today's Performance

State Bank of India started the day by opening at 777.25 today 2024-04-12. Its shares reached a high of 779.50 and dipped to a low of 764.80 in intraday. When the markets closed, SBIN’s stock price settled at ₹766.30 per share. Also check out its key support and resistance levels.

SBIN Buy/Sell Targets

Tomorrow, sell SBIN when its price reaches ₹ 766.30 with a stop-loss order at ₹ 773.48. You can set the target price as ₹ 759.12 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 support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for SBIN

Resistance Levels Value in ₹
Tomorrow Resistance 1 776
Tomorrow Resistance 2 785
Tomorrow Resistance 3 790

Important Supports for SBIN

Support Levels Value in ₹
Tomorrow Support 1 761
Tomorrow Support 2 756
Tomorrow Support 3 746
Based on where the stock opens tomorrow, if SBIN opens on a positive note, our first target will be ₹776. If Target 1 is achieved, we will aim for Target 2 which is ₹785.

But if SBIN falls below the average value of ₹770.20, you can enter a sell side position with target number 1 - ₹761 and second target - ₹756 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 Decreasing 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 Decreasing 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

Predicted trend chart of SBIN tomorrow for price forecast
SBIN may trend may continue to be bearish since stock is making lower low and we can get target of ₹774 in morning tomorrow
Target 1 tomorrow776
Target 2 tomorrow779
Target 3 tomorrow785
 

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 ₹775.60. If Target 1 is achieved, we will aim for Target 2 which is ₹784.90.

But if SBIN falls below the average value of ₹770.20, you can enter a sell side position with target number 1 - ₹760.90 and second target - ₹755.50

SBIN's Weekly Targets
1st Up Target 777.63
2nd Up Target 788.97
1st Down Target 758.03
2nd Down Target 749.77

As the week for SBIN ended on bullish sentiments, we can expect further continuation of this sentiment. SBIN's initial target will be 777.63 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 758.03 in the upcoming week.

Weekly OHLC Values
Open 766.05
High 780.70
Low 761.10
Close 766.30

Week for SBIN started with an open price of 766.05, and the close was at 766.30. SBIN reached the highest of 780.70 and dipped lowest up to 761.10 last week. This indicates a bullish sentiment for the week.

SBIN full month swing targets
Monthly Up Target 1 797.23
Monthly Up Target 2 808.57
Monthly Down Target 1 738.43
Monthly Down Target 2 710.57

Targets of ₹797.23 can be expected to be reached in the coming month. Once SBIN achieved this target, we can aim for the next upside target of ₹808.57.

SBIN if fails to hold upside, down targets of ₹738.43 and ₹710.57 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 775.60 in tomorrow's trading session.

After achieving the initial target in SBIN, we will aim for higher targets of 784.90 tomorrow.

However, if SBIN starts to trade below ₹770.20, then we will shift our focus to the sell side and aim for down targets of 760.90 and 755.50.