SBI Options Chain

State Bank of India – Options Strategy for 13 March 2026

State Bank of India has been witnessing sustained selling pressure in the short term as the stock slipped 7.21% over the past week and closed at Rs. 1085.20 in the last session. The stock is currently trading below its 20DMA at Rs. 1178.97 and also below its 34DMA at Rs. 1137.09, indicating short-term weakness despite the broader medium and long-term trend still remaining bullish.

From a technical perspective, the short-term structure appears bearish as most momentum indicators are turning negative. RSI has dropped to 36.72, reflecting weakening bullish strength and increasing selling pressure. MACD has moved into negative territory with a widening negative histogram, confirming downward momentum. Meanwhile, CCI at -129 and Williams %R near -87 suggest the stock is approaching oversold territory, but the trend still favors sellers.

Directional indicators also confirm the bearish bias. The DMI shows –DI at 41.43 significantly above +DI at 16.19, indicating strong downside pressure. ADX at 33.95 further suggests that the current trend is strong and directional, increasing the probability of continuation on the downside.

Price action also supports the bearish outlook. The stock is hovering close to the pivot point of Rs. 1084.57 and slightly below the lower Bollinger Band at Rs. 1087.87, suggesting continued weakness. If SBI breaks below the immediate support zone of Rs. 1080–1077, it may trigger fresh downside momentum toward Rs. 1057 and even Rs. 1030 levels in the near term.

Options Strategy (Preferred Trade – Bearish Momentum)

Strategy | Level
Instrument | SBI 1080 PE
Buy Zone | Rs. 18 – Rs. 22
Stop Loss | Rs. 12
Target 1 | Rs. 32
Target 2 | Rs. 45

Why 1080 PE?

The 1080 strike is near-the-money and positioned close to the key breakdown level. If SBI slips below Rs. 1080, the stock could quickly move toward Rs. 1060–1050 levels, which would result in rapid premium expansion in the 1080 PE.

Technical Levels

Level | Price
Immediate Resistance | Rs. 1098
Major Resistance | Rs. 1112
Immediate Support | Rs. 1071
Strong Support | Rs. 1057

Strategy Outlook

With short-term trend turning bearish, momentum indicators weakening and sellers dominating directional indicators, SBI appears vulnerable to further downside pressure. A sustained move below the Rs. 1080 zone may trigger fresh selling momentum toward Rs. 1057–1030 levels. In such a scenario, the 1080 PE offers the best risk-reward setup for intraday traders.