SBI Technical Dashboard
| Indicator | Reading | Interpretation |
|---|---|---|
| RSI | 45.85 | Mildly bearish momentum |
| MACD | 4.21 | Positive but weakening |
| MACD Signal | 8.13 | MACD remains below signal |
| Histogram | −3.91 | Negative short-term momentum |
| ADX | 19.91 | Weak directional strength |
| DMI | +24.60 / −23.77 | Buyers hold only a marginal advantage |
| Bollinger Mid-Band | Rs. 1,053.66 | Immediate positional hurdle |
| Bollinger Lower Band | Rs. 1,007.93 | Major downside support |
| Parabolic SAR | Rs. 1,117.96 | Price remains in a bearish SAR structure |
| ATR | Rs. 18.49 | Moderate daily volatility |
Moving-Average Structure
SBI is trading below its 20-day SMA of Rs. 1,053.66, 34-day SMA of Rs. 1,043.64 and 50-day SMA of Rs. 1,040.94. This creates immediate resistance between Rs. 1,041 and Rs. 1,054.
The stock remains above its 89-day SMA of Rs. 1,029.83 and 200-day SMA of Rs. 1,036. Therefore, Rs. 1,030–1,036 is an important support cluster. A decisive break below this region would weaken the broader structure.
SBI Option Chain Analysis
The option chain indicates strong resistance around Rs. 1,040–1,050. Fresh Call writing of 769 contracts at Rs. 1,040, combined with Put unwinding of 1,306 contracts, shows that traders are defending this strike as an immediate ceiling.
The Rs. 1,050 Call carries the highest Call OI of 4,701 contracts. Although some Call unwinding occurred, the strike remains the principal resistance. SBI must cross Rs. 1,050 decisively to trigger meaningful short covering.
Strong Put Base
Put open interest is concentrated at Rs. 1,000, Rs. 1,020, Rs. 1,030 and Rs. 1,050. However, Put unwinding is visible across most strikes, indicating that support has weakened.
The practical near-term support is Rs. 1,030, followed by Rs. 1,024. A breakdown below Rs. 1,030 could accelerate the decline towards Rs. 1,008–1,000.
Market Interpretation
SBI is technically weak but approaching oversold territory. Stochastic RSI stands near zero, Stochastic is close to 20 and Williams %R is at −91.99. These readings suggest that aggressive selling at current levels may carry reversal risk.
However, oversold conditions alone do not constitute a buy signal. The stock must reclaim Rs. 1,048–1,050 before a sustainable recovery can be confirmed.
Execution Plan
- Above Rs. 1,050: Buy for Rs. 1,056 and Rs. 1,071.
- Below Rs. 1,030: Sell for Rs. 1,024 and Rs. 1,008.
- Between Rs. 1,032–1,048: Avoid directional trades.
- Use a sustained 15-minute close for confirmation.
- Avoid oversized positions in expiry-day options.
Confidence Meter
| Scenario | Confidence |
|---|---|
| Range-Bound Movement | ⭐⭐⭐⭐☆ |
| Bullish Breakout | ⭐⭐☆☆☆ |
| Bearish Breakdown | ⭐⭐⭐☆☆ |
| Overall Directional Confidence | 55% |
SBI FAQs
What is SBI support today?
Immediate support is Rs. 1,030, followed by Rs. 1,024 and Rs. 1,008.
What is SBI resistance today?
Resistance is placed at Rs. 1,048–1,050, followed by Rs. 1,056.
Is SBI bullish or bearish today?
SBI is range-bound with a mild bearish bias below Rs. 1,050.
When should traders buy SBI?
Fresh buying is preferable only after a sustained move above Rs. 1,050.
When should traders sell SBI?
A short trade becomes favourable below Rs. 1,030.