In June 2024, SBIN share price made an all-time high of ₹912. However, it faced selling pressure from that level and started making lower lows. According to experts, this was initially seen as profit booking. Later, in July 2024, when the stock attempted to rise again, it failed to reach its previous all-time high and faced selling pressure once more. On the daily timeframe, the trend shifted from upward to sideways.
After a prolonged period of selling, SBIN consolidated for almost six months. In November 2024, selling resumed, and due to negative global market sentiment, the stock faced even more pressure, leading to a shift towards a strong downtrend. Investors panicked and reduced their holdings.
Experts noted that there was no support before ₹620, and many were waiting for this level. ₹620 is considered a strong support zone, backed by the 20-quarter Exponential Moving Average, making it a significant level. However, for some reason, the stock never reached this level.
Even though there was no significant support level, SBIN found support at ₹680, attracting buyers’ attention. On the daily timeframe, the trend has also shifted from down to up. However, since this movement is not originating from a strong support zone, anyone planning to enter should follow a strict stop-loss to manage risk effectively.
Downside support levels in SBIN share price
If SBIN starts declining after entry at ₹738, the first support level is ₹718, which should be treated as a strict stop-loss. The second support is at ₹620, followed by the third and strongest support at ₹580.
Upside expected levels in SBIN share price
If SBIN starts moving upward, the first target is ₹800, followed by the second target at ₹850. The third target is ₹920, which represents a 22.6% return from the planned entry at ₹738.
Plan of Action for SBIN share price
What to Do in SBIN share price? If anyone is planning to buy SBIN, they can wait for a retracement and plan an entry near ₹738 with a strict stop-loss at ₹718. If the stop-loss is hit, it’s best to wait for further price action before making any new decisions.
FAQs
Q1: What is the current trend of SBIN share price?
As of now, SBIN is showing signs of trend reversal on the daily timeframe. After consolidating and facing continuous selling pressure, the trend has shifted from down to up. However, this reversal hasn’t emerged from a major support zone, so caution is advised.
Q2: What caused the downtrend in SBIN after its all-time high?
A: SBIN made an all-time high of ₹912 in June 2024, but faced consistent selling pressure, which was initially seen as profit booking. A failed attempt to retest the high in July 2024 confirmed weakness, and further pressure in November 2024 — influenced by negative global sentiment — pushed the stock into a strong downtrend.
Q3: What is the major support level for SBIN share price in 2025?
The key support experts were watching was ₹620, backed by the 20-quarter EMA. However, SBIN didn’t fall to that level. Instead, it found unexpected support around ₹680, which has now become the latest demand zone.
Q4: What is the suggested entry point in SBIN share price for 2025?
A strategic entry can be planned near ₹738 with a strict stop-loss at ₹718. Since the trend is showing early signs of recovery, managing risk is important for any long position.
Q5: Is it safe to buy SBIN now?
Only if you’re following proper risk management. Since the current upward move isn’t from a well-established support zone, it’s recommended to buy only if you’re willing to accept the risk with a tight stop-loss.
Q6: What should I do if the stock hits the stop-loss at ₹718?
If ₹718 is breached, the trade setup becomes invalid. It’s better to wait for further price action or let the stock come down to stronger support levels like ₹620 or ₹580 before making new buying decisions.
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Disclaimer
Stock market investments are subject to market risks. The information in this article is for educational purposes only and should not be considered financial or investment advice. Readers should do their own research or consult a financial advisor before making any investment decisions. The author and publisher are not liable for any financial losses incurred.