Today’s SBI Target & Stop Loss

SBI looks mildly bullish with a consolidation bias for tomorrow.

The highest-probability trade is to buy only above Rs. 1,048. The stock continues to hold above its 20-DMA, 34-DMA, 50-DMA and 200-DMA, while short-term and long-term trends remain bullish. However, medium-term resistance and heavy Call writing around Rs. 1,050–1,060 may restrict immediate upside. The bullish setup will be invalidated if SBI slips below Rs. 1,024, which could invite fresh selling towards Rs. 1,011–987. A sustained move above Rs. 1,048 can trigger a rally towards Rs. 1,060–1,075.

Probability:

✅ 65% chance of trading between Rs. 1,024 – 1,048
✅ 25% chance of breakout above Rs. 1,048 towards Rs. 1,060–1,075
❌ 10% chance of a sharp fall below Rs. 1,024

Bullish Above: Rs. 1,048
Bearish Below: Rs. 1,024
Expected Range: Rs. 1,024 – 1,048
Best Trade Today: Buy 1050 CE above Rs. 1,048 after confirmation.

SBI Levels Today: Support, Resistance, Option Chain & Trade Setup

SBI closed at Rs. 1,036, comfortably above its 20-DMA, 34-DMA, 50-DMA and 200-DMA, indicating that the broader structure remains constructive despite recent consolidation. The stock gained 1.36% in the previous session. Short-term and long-term trends remain bullish, while the medium-term trend is still neutral to mildly bearish.

Technical indicators suggest that momentum is improving but has not yet turned decisively strong. RSI stands at 54.50, MACD remains positive though the histogram has weakened slightly, and ADX at 11.71 reflects a weak trend, indicating that a strong directional move is still awaited.

The option chain shows heavy Call open interest at 1050 and 1060, creating an immediate resistance zone. Put positioning is strongest around 1010–1030, indicating that downside support remains intact unless those levels are breached.

Overall, SBI retains a mildly bullish bias, but traders should wait for a confirmed breakout above Rs. 1,048 before initiating fresh long positions.

Key SBI Levels Today

Chanakya View

👉 Above Rs. 1,048: Buy 1050 CE for targets of Rs. 1,060–1,075.

👉 Above Rs. 1,060: Fresh buying can extend the rally towards Rs. 1,075–1,085.

👉 Below Rs. 1,024: Buy 1030 PE for targets of Rs. 1,011–987.

👉 Between Rs. 1,024–1,048: Expect consolidation and option premium erosion.

SBI Option Chain Strategy Today – 28 July Expiry

Today’s Options Trade Setup

Why This Trade?

• SBI continues to trade above its 20-DMA, 34-DMA, 50-DMA and 200-DMA, supporting the broader bullish structure.
• Short-term and long-term trends are bullish, while the medium-term trend remains mildly bearish.
• MACD is still in positive territory, although the declining histogram indicates slowing momentum.
• RSI at 54.50 reflects healthy momentum with room for further upside.
• ADX at 11.71 suggests the trend lacks strength, making breakout confirmation essential.
• DMI shows a balanced market with +DI slightly above -DI, favouring bulls marginally.
• Bollinger Bands indicate price is trading above the middle band, which supports a positive bias.
• Option chain shows heavy Call writing at 1050–1060, making this an important hurdle.
• Strong Put support around 1020–1030 should cushion declines unless broken decisively.