SBI Life Insurance Company Limited Stock Forecast

SBI Life Insurance Company Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)

SBILIFE.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 1.96%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SBI Life Insurance Company Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹1,475.50. On a fall, the stock will find some support from the short-term average at ₹1,440.32. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for SBI Life Insurance Company Limited stock

SBI Life Insurance Company Limited finds support from accumulated volume at ₹1,436.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹34.50 between high and low, or 2.40%. For the last week the stock has had daily average volatility of 2.85%.

Our recommended stop-loss: ₹1,360.86 (-5.69%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)

Trading Expectations (SBILIFE.BO) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect SBI Life Insurance Company Limited to open at ₹1,451.17, and during the day (based on 14 day Average True Range), to move between ₹1,409.13 and ₹1,476.87, which gives a possible trading interval of +/-₹33.87 (+/-2.35%) up or down from last closing price. If SBI Life Insurance Company Limited takes out the full calculated possible swing range there will be an estimated 4.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹1,436.35 (0.46%) than the resistance at ₹1,501.25 (4.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is SBI Life Insurance Company Limited stock A Buy?

SBI Life Insurance Company Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.756 Hold/Accumulate Upgraded

Predicted Opening Price for SBI Life Insurance Company Limited of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.