Updated for 16 July 2026 @ 9.00 AM on 16 July 2026
Today’s SBI Target & Stop Loss
Should You Buy SBI Today?
SBI is trading with a neutral to mildly bearish bias after closing at Rs.1030.10, just above the pivot point but below its 20-DMA and 89-DMA. The highest-probability trade for today is buying only above Rs.1039–1040, where a breakout could trigger fresh momentum. Until then, every rise is likely to witness selling pressure as the short- and medium-term trends remain bearish. Although the long-term trend continues to be bullish, the weak ADX and negative MACD histogram suggest the stock is still consolidating rather than trending. The bullish setup will be invalidated if SBI slips below Rs.1017, which could invite fresh selling towards Rs.1004–982.
Probability
✅ 60% chance of trading between Rs.1017 – Rs.1040
✅ 25% chance of breakout above Rs.1040 towards Rs.1049 – Rs.1071
❌ 15% chance of decline below Rs.1017 towards Rs.1004 – Rs.982
Bullish Above: Rs.1040
Bearish Below: Rs.1017
Expected Range: Rs.1004 – Rs.1049
Best Trade Today: Buy SBI 1040 CE only after a sustained breakout above Rs.1040
SBI Levels Today: Support, Resistance, Option Chain & Trade Setup
SBI closed at Rs.1030.10 and continues to consolidate around its pivot zone after witnessing a mild recovery. While the long-term trend remains positive, both short- and medium-term trends are still bearish, indicating that traders should wait for confirmation before initiating fresh long positions.
The stock is trading close to its 20-DMA (Rs.1034) and 89-DMA (Rs.1035), making the Rs.1039–1040 zone an important breakout level. RSI at 51.87 reflects neutral momentum, while ADX at 10.61 confirms that the current trend lacks strength. Until momentum improves, SBI is likely to remain range-bound.
Key SBI Levels Today
| Level | Price |
|---|---|
| Support 1 | Rs.1017 |
| Support 2 | Rs.1004 |
| Pivot | Rs.1026.60 |
| Resistance 1 | Rs.1039.50 |
| Resistance 2 | Rs.1048.90 |
Chanakya View
👉 Below Rs.1017: Buy 1020 PE for targets of Rs.1004–982.
👉 Below Rs.1004: Fresh selling may drag SBI towards Rs.982–960.
👉 Above Rs.1040: Recovery rally may extend towards Rs.1049–1071.
👉 Between Rs.1017–1040: Expect consolidation and option premium erosion.
SBI Option Chain Strategy Today – 28 July Expiry
Today’s Options Trade Setup
| Instrument | Trade | Buy Zone | Target | Stop Loss |
|---|---|---|---|---|
| 1040 CE | Buy Above Breakout | Rs.18–22 | Rs.32 / Rs.45 | Rs.12 |
| 1020 PE | Buy Below Support | Rs.16–20 | Rs.30 / Rs.42 | Rs.11 |
| 1030 CE | Buy on Reversal | Rs.25–30 | Rs.40 / Rs.55 | Rs.18 |
Why This Trade?
- SBI remains below its 20-DMA and 89-DMA, while trading above the 50-DMA and 200-DMA, indicating consolidation rather than a confirmed trend.
- Short-term and medium-term trends remain bearish, while the long-term trend is still bullish.
- MACD remains positive but the histogram is negative, suggesting momentum has weakened.
- RSI at 51.87 reflects neutral conditions with room for movement in either direction.
- ADX at 10.61 indicates a weak trend and a lack of directional conviction.
- Parabolic SAR remains above the current price, signalling that buyers have yet to regain full control.
- Traders should wait for a decisive breakout above Rs.1040 before adopting a bullish stance.
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Support and Resistance
| Type | Levels |
|---|---|
| Immediate Support | Rs.1017 – 1004 |
| Strong Support | Rs.982 – 960 |
| Immediate Resistance | Rs.1040 – 1049 |
| Strong Resistance | Rs.1071 – 1094 |
Key Trading Levels
| Level Type | Price |
|---|---|
| Pivot Point | Rs.1026.60 |
| Downside Trigger | Rs.1017 |
| Upside Trigger | Rs.1040 |
| Major Resistance | Rs.1049 |
| Strong Support | Rs.1004 |
Option Chain Interpretation
| Strike | Interpretation |
|---|---|
| 1020 | Strong support zone |
| 1030 | Key battleground between buyers and sellers |
| 1040 | Immediate breakout hurdle |
| 1050 | Strong resistance likely |
| 1010 | Breakdown support level |
Bias: Neutral to mildly bearish below Rs.1040. Fresh bullish momentum is likely only after a sustained breakout above Rs.1040–1049.
Execution Plan
| Condition | Action |
|---|---|
| Above Rs.1040 | Buy 1040 CE |
| Above Rs.1049 | Hold for Rs.1071–1094 |
| Below Rs.1017 | Buy 1020 PE |
| Rs.1017–1040 | No Trade Zone |
Technical View Today
| Indicator | Signal |
|---|---|
| Trend | Short & Medium Bearish, Long-Term Bullish |
| RSI | 51.87 (Neutral) |
| MACD | Positive but weakening |
| ADX | 10.61 (Weak Trend) |
| DMI | Bears marginally ahead |
| Bollinger Bands | Trading near middle band |
| Stochastic | Neutral |
| ATR | 20.40 |
Pro-Level Upgrade (What Big Players Do)
- Avoid aggressive buying while SBI trades below Rs.1040.
- Prefer fresh long positions only after a convincing breakout with strong volumes.
- Accumulate near Rs.1017–1020 only if the support holds.
- Book partial profits near Rs.1049 and trail the balance if momentum strengthens.
- If Rs.1017 breaks decisively, shift to a bearish strategy as the stock could decline towards Rs.1004–982.
Paresh Gordhandas View
SBI is currently in a consolidation phase after a prolonged uptrend, with neutral momentum indicators and weak trend strength. The long-term structure remains constructive, but the stock needs a decisive move above Rs.1040–1049 to revive bullish momentum. Until then, traders should avoid chasing small rallies and instead focus on confirmed breakouts or breakdowns with strict stop-loss discipline. A sustained breakout above Rs.1040 can trigger a recovery towards Rs.1071–1094, while a fall below Rs.1017 may strengthen the bearish bias.