SBI – Technical Analysis, Support and Resistance

The stock

is currently showing a sideways-to-weak structure on the daily chart. After making a strong high near ₹1120 the stock has been forming lower highs and has corrected toward the ₹970–₹990 zone. The latest candle is around ₹985.70 keeping price close to an important support area. The short-term structure can improve if price sustains above ₹1000 with strong volume. However, the broader setup remains under pressure while the stock stays below the ₹1020–₹1040 region. Support & Resistance: Immediate support is around ₹970–₹975 followed by ₹940–₹950. Holding ₹970 can help the stock build a base. On the upside ₹1000–₹1010 is the first resistance zone. A sustained move above this area can bring ₹1020–₹1040 into focus. Short-Term Buyers & Holders View: For short-term buyers ₹970–₹975 is an important zone to monitor for support confirmation. A breakout above ₹1000–₹1010 with volume would improve the short-term structure. If ₹970 breaks decisively, the stock may face further selling pressure toward ₹940–₹950. Holders can monitor ₹970 support and ₹1010 resistance for the next directional move.