State Bank of India (1W)
Price: ₹958 • Trend: Strong Bullish • Structure: Multi-year ascending channel
🔷 LONG-TERM TREND
SBIN continues to respect a major ascending channel that has been active since 2020.
Price has formed higher highs and higher lows for multiple years, confirming a strong secular uptrend.
A clean Elliott Wave structure is unfolding with Wave 3 extending and higher targets opening up.
📌 KEY SUPPORT LEVELS
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₹904 – Major weekly support
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₹755 – Trendline support
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₹549 – Long-term base
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₹425 – Historical support
As long as price stays above ₹904, the bullish structure remains intact.
📌 RESISTANCE & TARGET ZONES
Wave 3 Target Zone
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₹1,050 → ₹1,199
Wave 5 Long-Term Projection
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₹1,325
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₹1,440
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₹1,589
These zones align with upper channel projections, swing highs, and Fibonacci extensions.
🔥 MOMENTUM (RSI)
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Weekly RSI remains above 70, staying in strong momentum territory
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No major bearish divergence
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Indicates continuation of the trend with potential short consolidations
🚀 PRICE OUTLOOK (2025–2026)
Short-Term
Possible retracement into ₹904–₹930 zone before continuation.
Medium-Term
Climb toward ₹1,050 → ₹1,107 → ₹1,199.
Long-Term
Wave 5 expansion toward ₹1,325 → ₹1,440 → ₹1,589.
SBIN remains one of the strongest structural uptrends in the entire PSU banking space.
⭐ SUMMARY
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Clean multi-year ascending channel
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Wave 3 in progress
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Wave 5 targets open up significantly
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RSI supports long-term continuation
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PSU banking cycle remains structurally strong
As long as ₹904 holds, the broader trend stays bullish.
⚠️ DISCLAIMER
This analysis is for educational and chart-study purposes only and is not investment advice.
Always do your own research and consult a registered financial advisor before making trading or investment decisions.
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