SBIN--Rally Base Rally or Reversal??A strong bullishness is observed in this stock....
if this will continue then a rally base rally is observed....
otherwise reversal chances are more...
keep safe here...
Sbin
SBI - 700 TARGET DONEWE ENTERED ON JAN 3RD 2024
Can Enter again at CMP - 630
If falls You need to average at 600 level
We have already Entered at 552 level
Target - 700,900+
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
SBIN_05FEB2024State bank of India. moving in range . Breakout may come anytime. till that time, its traders game.
Breakout in SBINA beautiful ascending channel pattern can be seen in SBIN. It did breakout, retraced and then fired. we can see some more move
Strong Buy SBIN cmp 622, Target 670++ within 3-5 trade sessions.State Bank of India is a Fortune 500 company. It is an Indian Multinational, Public Sector banking and financial services statutory body headquartered in Mumbai. It is the largest and oldest bank in India with over 200 years of history.
Branch Network
Presently, the bank operates a network of 22,219 branches and 62617 ATMs across India. It also operates 71,968 business correspondent outlets across India.
Market Share
The bank has a market share of 22.84% in deposits and 19.69% share in advances in India. It has a strong customer base of 45 crore customers.
Loan Book
Retail loans account for 39% of the loan book, followed by corporate (37%), SME (14%) and Agriculture (10%). The bank has a well-diversified loan book exposed to various sectors. Top sectors include home loans (23%), infrastructure (15%), services (12%) and agriculture (10%). 75% of the corporate advances are rated A and better ratings from rating agencies. 38% of the corporate book accounts for PSUs & Govt. departments.
International Business
The bank has a global footprint with a network of 233 branches/offices in 32 countries. It has presence in USA, Canada, Brazil, Russia, Germany, France, Turkey, Australia, Bangladesh, Nepal, Sri Lanka and other countries. Presently, Overseas business accounts for 3% of total deposits and 13% of total advances.
Government Business
SBI has always been the banker of choice to the government of India and is the market leader in government business. It had turnover of 52,50,000 lakh crores and commissions of 3,700 crores from government business in FY20.
Financial Inclusion Business
The bank has 71,000 BC outlets which has primary focus on financial inclusion customers. The bank accounts for 40% of all PMJDY accounts i.e. more than 12 crore accounts. Presently, the deposits from PMJDY accounts are 42,500 crores i.e. 1.2% of total deposits of the bank.
Digital Metrics
Increasing digitization resulted in 40% of asset accounts and 60% of liability customers added via digital channels in FY21.
Subsidiaries Operations
The bank owns various subsidiaries which are engaged in related business activities :-
1. SBI Capital Markets Ltd (100% stake)
2. SBI DHFI Ltd (72% stake)
3. SBI Cards and Payment Services Ltd (69% stake)
4. SBI Life Insurance Co. Ltd (57.6% stake)
5. SBI Funds Management Pvt Ltd (63% stake)
6. SBI General Insurance Company Ltd (70% stake)
KEY Ratios (Q1FY24)
Capital Adequacy Ratio - 14.50%
Net Interest Margin - 3.34%
Gross NPA - 4.77%
Net NPA - 1.23%
CASA Ratio - 45.15%
Book Value ₹ 402
Price to book value 1.55
Bank's performance:
Quarterly net profit of 14,330 crores.
Operating profit for Q2FY24 at 19,417 crores.
RoA for H1FY24 at 1.10%.
RoE for H1FY24 at 22.57%.
Net interest income increased by 12.27% YoY.
Non-interest income increased by 21.59% YoY.
Credit growth:
Domestic advances grew by 13.21%.
Driven by SME advances, retail personal advances, and agri advances.
Corporate segment advances grew by 6.62%.
Asset quality:
Gross NPA ratio improved by 97 bps YoY to 2.55%.
Net NPA ratio improved by 16 bps to 0.64%.
PCR improved by 39 bps YoY to 91.93%.
Future outlook:
Credit and deposit growth expected to be around 16-17% in FY24.
Margins may see a slight compression of 3-5 bps due to increased deposit rates.
Aims to maintain credit growth momentum by disbursing pending loans and converting proposals into sanctions.
SME loans:
Witnessed healthy growth in SME book.
Initiatives taken to improve infrastructure for SME lending.
Expects to reach target of 4 trillion in SME loans by FY24.
Unsecured loans:
Unsecured loan portfolio, including Xpress Credit, has a low GNPA ratio of 0.69%.
Resilient in terms of asset quality.
Digital initiatives:
Increased traction in cross-selling business through YONO.
Sourced 61% of savings bank accounts digitally.
Launched "YONO for Every Indian" and witnessed growth in digital loan portfolio.
Capital adequacy:
Well capitalized with a capital adequacy ratio of 14.28% and CET-1 ratio of 9.94% which is well above regulatory requirements. Expects CET-1 ratio to improve further with ploughing back of profits.
Conclusion:
SBIN stock price has given a breakout multiple times along with the strong volumes and today it has retested the breakout zone, which is a strong buying point for a minimum target of 670 in 3-5 trading sessions. Fundamentally, stock can has an intrinsic valuation of Rs.800 so there is an enough cushion and momentum on upside.
#TATAINVEST 2689 BUY for 30% upside #stocksToWatch Rachit Sethia#TATAINVEST
NSE:TATAINVEST
TATAINVEST 2689
TGT 3525
SL 2377
RR = 2.7
Return 31%
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
SBIN--Resistance becomes Support??After a strong break above the major resistance,now price is again at the same zone.
If this resistance acts as support,this stock will again be bullish.keep safe from this zone.
If this failed to push upside will observe a continuous down momentum in this stock.
The Bank that India banks on SBI, looking towards an uptrend.State Bank of India is an Indian multinational public sector bank and financial services. SBI is one of premier Indian bank which is also a Public Sector bank.
The positive aspect of the company is Zero Promoter pledge, Book value of the share increasing, FIIs increasing stake in the bank, Annual net profits are increasing, revenue of the bank is also increasing. The negative aspect of SBI is Mutual Funds are decreasing and there is a noted decrease in net cash flow of the company.
Entry in the stock can be taken after closing above 636. Targets for SBI will be 646 and 659. Long term targets in SBI will be 671 and 688. Stop loss in SBI can be maintained at a weekly closing below 588.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
SBINSBIN has broke the weekly resistance level and retested successfully.
Good opportunity to buy for swing or long term.
SBI new highSbi may have completed or going to complete 4th wave near 618-608 zone..
Would look to buy on any reversal for targets of 660-690..
Aggressive stop loss can be taken as 618 below closing or 608 below for normal view
Also bullish abcd harmonic is made at 618
price & Volume says SBI is retracing fastPrice now trapped under the RED TrapZone and UMVD also shows selling in the market. So TREND NOW is lower wait for green TrapZone and green UMVD to signal up moves
SBI Sbi may have made a triangle in 4th wave leading to a fall for the 5th..can go till 618-621 zone where we will relook for buying opportunity
SBI - Elliott Wave CountSBI - Elliott Wave Count
SBI - the market breaks the recent tl support and can go around 615 range and then we can expect the reversal up to 670 range.
Please note that this information is solely for educational purposes, and it is essential to exercise caution when trading
NSE:SBIN NSE:SBIN1! BSE:SBIN
SBI BANK Monthly breakout LONGSBIN has given an monthly breakout after a year of consolidation.
It also formed an ascending pattern and gave its breakout at 620-630 levels.
CMP 642.05
Re-test level is 630-620
State bank of India looks ready for another massive move upState Bank of India looks great at current levels.
Has been breaking out of ascending triangle on weekly.
We can wait for weekly close to happen to take an entry for good targets.
SBI to INR 600 again?A 5-wave impulsive rise was spotted in SBIN beginning on 26Oct and ending on 16Nov.The stock moved 8% during this impulse.
The correction that began on 16 Nov was quite steep and swift forcing the stock to give up on 70% of the gains it made during 'wave i' phase.
Now, however after having completed the correction the stock is set to move up again in 'wave iii' phase. The projected length of this wave suggests that the stock could soon be at the INR 600 mark.
As of now the low of 555 is being considered as important reversal point and being considered for 'SL'.
Note*- The views expressed here are absolutely based on personal opinions &observations. Please do your own research before making any trading/investing decisions.
#FILATEX 46.90 Upside 17% Recommended Buy - Rachit SethiaFILATEX 46.90
TGT 55
SL 43
TF < 6M
Return > 17% ++
RR > 2.5
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
#OMAXE 48.80 Buy TGT 61 23% upside recommended - Rachit Sethia OMAXE 48.80
TGT 61
SL 42
RR ~2
Return > 23%
TF < 6M
NSE:OMAXE
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
SBIN--Head & ShouldersThis stock is now in consolidation..
Head and shoulders pattern is detected...
If consolidation with rise, happens we have a chance of fall back to the below neckline...
keep look for sell when price reaches the right shoulder.
SBIN Analysis ??A strong push to the top side is observed from this zone...
price created a bullish channel...
today broken the channel if tomorrow price retest and may fall back or if failed to fall a strong rise is observed.
keep look for long...
SBIN--Drop Base Drop ??The stock is continuously falling now it is in ranging from last few days....
before going to break below if it gives us retracement to sell again...
Keep track this for sell...
If it is continuously falls A drop base drop is going to observe...
SBI close to breakout level.Bullish bars with with good volume forming on SBI. Are we going to see a breakout and new all time highs soon?
❤ & follow.
