SBI Life Insurance Company Limited Stock Forecast
SBI Life Insurance Company Limited stock downgraded to Sell Candidate
(Updated on May 17, 2024)
The SBI Life Insurance Company Limited stock price fell by -1.24% on the last day (Friday, 17th May 2024) from ₹1,452.20 to ₹1,434.20. During the last trading day the stock fluctuated 1.36% from a day low at ₹1,430.50 to a day high of ₹1,450.00. The price has fallen in 6 of the last 10 days and is down by -0.63% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately ₹3.49 billion.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.63% during the next 3 months and, with a 90% probability hold a price between ₹1,297.12 and ₹1,372.70 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SBILIFE.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 1.34%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 ₹1,458.63. On a fall, the stock will find some support from the short-term average at ₹1,432.69. 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. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for SBI Life Insurance Company Limited stock
SBI Life Insurance Company Limited finds support from accumulated volume at ₹1,422.40 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 ₹19.50 between high and low, or 1.36%. For the last week the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SBILIFE.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect SBI Life Insurance Company Limited to open at ₹1,438.23, and during the day (based on 14 day Average True Range), to move between ₹1,405.80 and ₹1,462.60, which gives a possible trading interval of +/-₹28.40 (+/-1.98%) 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 3.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,436.55 (0.16%) than the support at ₹1,422.40 (0.82%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is SBI Life Insurance Company Limited stock A Buy?
SBI Life Insurance Company Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.395 Sell Candidate Downgraded
Predicted Opening Price for SBI Life Insurance Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹1,438.23 ( 0.281%) | ₹1,434.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBILIFE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,457.73 | 1.64 % | |
| R2 | 1,450.28 | 1.12 % | ||
| R1 | 1,445.68 | 0.80 % | ||
| Current price: | 1,434.20 | |||
| Support | S1 | 1,430.78 | -0.238 % | |
| S2 | 1,426.18 | -0.559 % | ||
| S3 | 1,418.73 | -1.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,510.40 | 5.31 % | |
| R2 | 1,444.45 | 0.715 % | ||
| R1 | 1,436.55 | 0.164 % | ||
| Current price | 1,434.20 | |||
| Support | S1 | 1,422.40 | -0.82% | |
| S2 | 1,422.35 | -0.83% | ||
| S3 | 1,415.25 | -1.32% |
SBILIFE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | Mar 15, 2024 | Apr 08, 2024 | ₹2.70 | 0.178% |
| 2 | Mar 16, 2023 | Mar 16, 2023 | Mar 16, 2023 | ₹2.50 | 0.235% |
| 3 | Mar 29, 2022 | Mar 29, 2022 | Mar 29, 2022 | ₹2.00 | 0.182% |
| 4 | Apr 05, 2021 | Apr 05, 2021 | Apr 05, 2021 | ₹2.50 | 0.287% |
| 5 | Mar 19, 2019 | Apr 03, 2019 | Apr 22, 2019 | ₹2.00 | 0.325% |
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