SBIN

Fundamental View-

State Bank of India (SBIN) is the largest public sector bank in India and a backbone of the country’s financial system, known for its vast network and diversified banking services. In FY24, the bank reported a Net Interest Income (NII) of approximately ₹1.27 lakh crore and a net profit of ₹61,077 crore, reflecting over 20% year-on-year growth. Technical View- As observed on the daily chart, the stock is currently trading in a strong positive rally, supported by healthy fundamentals. SBI has been performing well, and after posting impressive profits for FY2024-25, the stock has witnessed a sharp uptrend. Technically, the stock is holding firmly above its 14 & 55-day EMAs, indicating strong price support. On June 27th, the stock made a low of ₹802.80, followed by a good pullback, and on July 1st, it touched a high of ₹824.90. Today, some selling pressure was observed as the stock opened at ₹813.50, made a high of ₹814.50, a low of ₹806.00, and closed at ₹807.10. Despite minor profit booking, the stock continues to trade within its bullish structure. It is important to note that the stock is currently facing a small hurdle around the ₹825.00 level, but considering the price action, there are high chances that the stock may break this hurdle soon. Once the ₹825.00 level is crossed decisively, the stock can quickly move towards the ₹840–₹850 levels. In my view, any small dip, especially around ₹800–₹801 levels, can be seen as a good buying opportunity with a stop loss of ₹790.00 for targets of ₹840–₹850 in the short term. Warning- ***** ***** *****