State Bank of India Stock Forecast
State Bank of India stock price ended at ₹840.20 on Friday, after losing 0.438%.
(Updated on Jun 14, 2024)
The State Bank of India stock price fell by -0.438% on the last day (Friday, 14th Jun 2024) from ₹843.90 to ₹840.20. During the last trading day the stock fluctuated 1.66% from a day low at ₹835.90 to a day high of ₹849.75. The price has risen in 8 of the last 10 days and is up by 1.22% over the past 2 weeks. Volume has increased on the last day by 890 thousand 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 ₹1.43 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.05% during the next 3 months and, with a 90% probability hold a price between ₹902.03 and ₹1,053.22 at the end of this 3-month period.
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SBIN.BO Signals & Forecast
The State Bank of India stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹833.93 and ₹823.59. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 8.38%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 State Bank of India stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹789.65 and ₹775.20. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, State Bank of India finds support just below today's level at ₹789.65. If this is broken, then the next support from accumulated volume will be at ₹775.20 and ₹740.05.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹13.85 between high and low, or 1.66%. For the last week, the stock has had daily average volatility of 1.52%.
Our recommended stop-loss: ₹813.86 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (SBIN.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect State Bank of India to open at ₹841.95, and during the day (based on 14 day Average True Range), to move between ₹813.06 and ₹867.34, which gives a possible trading interval of +/-₹27.14 (+/-3.23%) up or down from last closing price. If State Bank of India takes out the full calculated possible swing range there will be an estimated 6.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹843.90 (0.44%) than the support at ₹789.65 (6.02%), 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 State Bank of India stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for State Bank of India stock to perform well in the short-term.
Current score: 2.815 Buy Candidate Unchanged
Predicted Opening Price for State Bank of India of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹841.95 ( 0.208%) | ₹840.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBIN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 855.80 | 1.86% |
| R2 | 850.51 | 1.23% |
| R1 | 847.24 | 0.84% |
| Price | 840.20 | |
| S1 | 836.66 | -0.421% |
| S2 | 833.39 | -0.81% |
| S3 | 828.10 | -1.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 905.80 | 7.81% |
| R1 | 843.90 | 0.440% |
| Price | 840.20 | |
| S1 | 789.65 | -6.02% |
| S2 | 775.20 | -7.74% |
| S3 | 740.05 | -11.92% |
SBIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | Jun 05, 2024 | ₹13.70 | 1.73% |
| 2 | May 31, 2023 | May 31, 2023 | Jun 14, 2023 | ₹11.30 | 1.96% |
| 3 | Jun 03, 2016 | Jun 03, 2016 | Jun 03, 2016 | ₹2.60 | 1.32% |
| 4 | May 28, 2015 | May 28, 2015 | May 28, 2015 | ₹3.50 | 1.26% |
| 5 | May 29, 2014 | May 29, 2014 | May 29, 2014 | ₹15.00 | 5.77% |
FAQ
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