State Bank of India (SBI) — Fresh Momentum on RBI Rate Cut Trigger

🗞️ Fundamental Trigger: RBI MPC Meeting In yesterday's RBI MPC Meeting, Governor Sanjay Malhotra announced a frontloaded Repo Rate cut of 50 bps and a CRR cut of 100 bps. Key implications: ✅ Lower EMIs, improved credit demand ✅ Banking sector liquidity boost ✅ Neutral policy stance supports further rate cuts if inflation remains benign ➡️ This is a positive trigger for PSU banks, particularly SBI, the largest lender, which stands to benefit from improved loan growth and treasury gains. 🔍 Technical Picture SBI remains in a strong secular uptrend — respecting a long-term rising trendline since 2021. The stock recently bounced from the trendline (~₹720–₹730 zone), confirming continued buying interest. ATR trailing stop levels show multiple prior whipsaws, but current structure suggests a new long signal (T2 UP) is in play post trigger. Immediate resistance is seen near ₹840–₹850 — recent swing high. Support: Trendline support near ₹745, with major support around ₹700. The purple trailing ATR band suggests volatility is compressing, setting up the stock for a potential breakout if bullish momentum sustains. ⚖️ Outlook & Levels to Watch ✅ Bullish Bias Above ₹745 ✅ Immediate possibility: ₹840 / ₹880 ✅ Medium-term climb: ₹900+ on sustained breakout ⚠️ Risk: Trendline breakdown below ₹720 would negate the bullish structure 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.