state bank of india share price analysis 2013

state bank of india share price daily chart technicals

state bank of india SBIN share on last trading session closed at 1633 with gains.on daily chart SBIN share trend and momentum is still down but showing technical bounce back and off the lows.

trading above weekly average of 1625 and at month average while on upside 1692 is 3 month average and target for this bounce back rally.above 1690 we will expect trend change and higher tops and bottom cycle.

for short term view,traders must stay long as sentiment and rupee improving and with stoploss below 1600 expect target 1690 and then 1860 in near terms.

 

state bank of india share price weekly chart technicals

SBIN share on weekly chart showing negative move in this week.on weekly chart SBIN share trend and momentum both bearish.formed bottom near 1500 and holding it.while on upside 1820 is 6 month average level and first strong resistance zone.1945 is 12 month average while 2030 is 24 month average level and strong supply zone from long term view.

from medium term view,1500-1540 zone was buying zone with stoploss 1400 and expect targets of 1790 and then bull market upto 2100-2300 levels.

 

state bank of india share price monthly chart technicals

SBIN share on monthly chart trading below all major long term averages.1900-1960 is 3 to 5 years averages zone and remain as strong resistance.while on downside 1550 is dec 2011 bottom support then comes 950 which is march 2009 bottom level.

SBIN is India’s one of the big PSU bank and bluechip company.SBIN share  also a mirror of Indian economy and must remain in everyone’s portfolio at levels investment.

historical chart with all slit/bonus/dividend adjustment shows all time low of 192 in 2002 while all time high of 3407 in 2010.

for long term view or investors 850-1400 is accumulation zone with price target 2700-3200 in next 2-3 years time frame.

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Updated: 11/10/2013 — 8:16 PM

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Pramod Baviskar

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