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SBI Life Insurance Technical Analysis #82: Buy | Target Rs 892 | Arijit Banerjee

CMP#811.2
IdeaBUY
Buy Range796 – 822
Target892 – 900
StopLoss*892 – 900
Duration25 – 30 Trading Sessions
Potential Return^10 – 11%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
811.2BUY796 – 822892 – 90077025 – 30 Trading Sessions10 – 11%

# CMP on Sep 03, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 852.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

SBI Life insurance business consists of individual life and group business, pension, gratuity, leave encashment, superannuation, unit-linked insurance products, variable insurance products, health and microinsurance. The company distribute its products through direct sales, SBI branch and individual agent networks, brokers and other corporate agents. The company reported a standalone net operating income of Rs 6655.02 crore for the quarter-ended June 30, 2019, compared to Rs 4754.52 crore reported during the corresponding period of 2018-19.

Stock Data
NSE CodeSBILIFE
Sectoral IndexFinancial Services
52W High1003
52W Low862.45
Face Value10
Relative Performance_SBI Life Insurance vs Nifty Financial

TECHNICAL OBSERVATIONS (DAILY)

  • The share price of SBI Life Insurance has been in an upward trend since last four months.
  • Today’s close is just above the steady support baseline which is moving upwards along with price rise and based on historical price pattern we are expecting price to go up from here.
  • Any reactive throwback might be temporary and also indicating an opportunity for a BUY trade as per the levels mentioned in the recommendation box.
SBI Life Insurance Daily Chart
SBI Life Insurance Daily Chart

CONCLUSION - SBI Life insurance SHARE PRICE FORECAST

Based on our positional trading stock advice, SBI Life insurance share price target will be 892 – 900 in the next few days.

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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