SBI stock tips 2014
SBI stock short term technical view
SBI stock on last trading session closed at 2459 with loss. On daily chart, SBI stock is super bullish and tending higher on high buying demand but technically overbought. From short-term view, SBI stock resistances are 2490, 2600 rupees while on downside 2400, and 2305 rupees are strong short-term support level. Daily chart indicators are overbought and with bearish divergences. On daily chart top is formed at 2600 rupee and will remain as strong supply point.
Here short term traders below 2600 level stay short on stock with strict stop loss for correction or wait for correction and then enter fresh long for target 2600 and above.
SBI stock medium term technical view
SBIN stock on weekly chart is showing gains in this week but formed a shooting star pattern, which is indicative of reversal on trend. On weekly chart stock price trend and momentum both are strong bullish but technically overbought. On upside 2540 and 2900 rupees are strong resistance levels while on downside 2170 and 1800 rupees are strong support zones. 1800 rupee is major long-term average level and above it, medium term view and strategy will remain buy and accumulate. Weekly chart indicators patterns are mixed but overbought so correction is due ahead.
Traders and investors trail stop loss below 2170 and expect upside targets. 2540 is already achieved by stock and above it, 2900 will be expected in next 6 to 12 months period.
SBI stock long term technical view
SBI stock in last 6 months had given 44% returns to investors and major outperformer as well as contributor to market rally. SBI is fundamentally and valuation means is best company to invest in with very long-term horizon. 1700-1800 was breakout zone and last major correction was best buying opportunity. 1100-1350 rupee was best buy zone, which was last seen in 2009, and 300-400 is much-undervalued zone, which was last seen in 2004. On upside 2540 was 12 month target which stock already achieved in very short time and above it, 3250 will be target for next 12 to 24 months period.
SBI company description
State Bank of India (SBI) is an India-based commercial bank. Its primary banks include Treasury, Corporate / Wholesale Banking, Retail Banking and Other Banking business. The Treasury Segment includes the entire investment portfolio and trading in foreign exchange contracts and derivative contracts. The Corporate / Wholesale Banking segment comprises the lending activities of Corporate Accounts Group, Mid Corporate Accounts Group and Stressed Assets Management Group. These include providing loans and transaction services to corporate and institutional clients and further include non-treasury operations of foreign offices. The Retail Banking Segment consists of branches in National Banking Group, which primarily includes Personal Banking activities, including lending activities to corporate customers having banking relations with branches in the National Banking Group. This segment also includes agency business and automated teller machines (ATMs).