SBI levels today

SBI Today at a Glance

SBI Share Price Prediction for 31 July 2026

SBI ended the previous session at Rs. 1,025.30, gaining 1.14%, but the overall technical structure remains mixed. While the stock has recovered from recent lows and is trading close to its 20-day and 34-day exponential moving averages, both the short-term and medium-term trends continue to remain bearish. The long-term trend, however, is still positive, indicating that the recent decline is more of a correction than a structural reversal.

The stock is currently hovering just above the Pivot Point of Rs. 1,020.40, making this level the most important reference point for today’s trade. Sustaining above the pivot can encourage fresh buying towards Rs. 1,033–1,041, whereas failure to hold above Rs. 1,012 may invite renewed selling pressure.

Technically, SBI is in a consolidation phase after correcting nearly 8% over the last three months. The stock has not yet generated a convincing bullish reversal signal, but it is attempting to stabilize around the Rs. 1,020–1,030 zone.

Market Probability

The probability currently favours a range-bound session because ADX is only 11.44, indicating a weak trend with limited directional strength. The market is likely to wait for a decisive breakout before establishing the next short-term move.

Bullish Scenario

The bullish setup becomes active only if SBI sustains above Rs. 1,031–1,033.

This zone coincides with:

• Camarilla resistance
• Fibonacci resistance
• 20-day and 34-day moving averages
• Immediate supply zone

A sustained move above this level can trigger short covering and fresh buying towards:

• First Target: Rs. 1,041
• Second Target: Rs. 1,054
• Extended Target: Rs. 1,062

A breakout above Rs. 1,041 would also place SBI above the recent consolidation range and significantly improve the short-term technical outlook.

Bearish Scenario

If SBI slips below Rs. 1,012, the recovery attempt may fail.

Below this level, downside targets become:

• First Target: Rs. 1,000
• Second Target: Rs. 986–990
• Extended Target: Rs. 979

The lower Bollinger Band is located near Rs. 1,003, making Rs. 1,000–1,003 an important support area. A decisive break below this zone could accelerate profit booking.

The negative MACD histogram and bearish DMI structure continue to support a cautious outlook until stronger buying emerges.

No-Trade Zone

The preferred no-trade zone is between Rs. 1,012 and Rs. 1,031.

Inside this range:

• Price is oscillating around the Pivot Point.
• Multiple moving averages are clustered together.
• Neither buyers nor sellers have established clear dominance.
• The option chain also indicates equilibrium between support and resistance.

Aggressive trades within this band may result in whipsaws and false breakouts.

Key Levels for SBI

SBI Option Strategy

The August option chain reflects a balanced but slightly cautious market.

The 1,020 strike has the highest Call open interest among the nearby strikes, while the 1,000 strike continues to hold the strongest Put base. This suggests that traders currently expect SBI to remain within a broad Rs. 1,000–1,040 trading band unless a fresh trigger emerges.

Bullish Trade: Consider buying the 1,030 CE or 1,040 CE only after SBI sustains above Rs. 1,031 with strong volumes.

Bearish Trade: Consider buying the 1,020 PE or 1,000 PE only if the stock slips below Rs. 1,012.

Avoid initiating option-buying positions while SBI remains inside the consolidation range because time decay could erode option premiums.

Why This Trade?

SBI is trading at an important decision point. While the long-term trend remains bullish, the short-term indicators have yet to confirm a meaningful reversal. The stock is hovering around its key moving averages, and the low ADX suggests that momentum is still lacking.

This makes breakout trading the preferred strategy. A move above Rs. 1,031 could attract fresh buying towards Rs. 1,041–1,054, whereas a break below Rs. 1,012 may lead to another round of selling towards Rs. 1,000.

Patience is likely to offer a better risk-reward than anticipating the direction.

Final Verdict

SBI carries a Neutral to Mildly Bearish outlook for 31 July 2026. The stock is expected to remain range-bound between Rs. 1,012 and Rs. 1,031 unless it witnesses a decisive breakout.

Buy only above Rs. 1,031 for targets of Rs. 1,041 and Rs. 1,054. Consider bearish trades only below Rs. 1,012. Traders should avoid aggressive positions within the no-trade zone.

Paresh Gordhandas View

SBI is currently consolidating around its key moving averages after a healthy correction. The long-term structure remains constructive, but short-term momentum is still weak, with a negative MACD and low ADX indicating the absence of a strong trend. A sustained move above Rs. 1,031 can trigger short covering towards Rs. 1,041–1,054, while a break below Rs. 1,012 may drag the stock back towards Rs. 1,000. Wait for confirmation before initiating fresh positions and maintain strict stop losses.