Multi Year Breakout - with Ascending Triangle Pattern
SBI Life Insurance is involved in the business activities of Life insurance.
The Stock is ready to break out a multi year resistance placed around 1020 levels. The Stock is technically placed at 10% above its 50 DMA. The RSI Levels are around 69 which is still not overbought.
The Company is fundamentally strong backed by SBI. Further, the company belongs to Life Insurance Sector which has a huge potential in coming years. An annual revenue growth of 28% is outstanding & ROE of 16% is good. The Company is Debt Free. FPI has increased their stake from 26.15% in June, 2020 to 30.51% in March 2021.
Watch out for breakout above 1020 levels. For Swing & Positional Traders, add only after close above 1040 for targets of 1200-1300 with SL at 970. Long Term Investors can keep accumulating with SL at 900 for Targets of 1500-1600
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The Stock is ready to break out a multi year resistance placed around 1020 levels. The Stock is technically placed at 10% above its 50 DMA. The RSI Levels are around 69 which is still not overbought.
The Company is fundamentally strong backed by SBI. Further, the company belongs to Life Insurance Sector which has a huge potential in coming years. An annual revenue growth of 28% is outstanding & ROE of 16% is good. The Company is Debt Free. FPI has increased their stake from 26.15% in June, 2020 to 30.51% in March 2021.
Watch out for breakout above 1020 levels. For Swing & Positional Traders, add only after close above 1040 for targets of 1200-1300 with SL at 970. Long Term Investors can keep accumulating with SL at 900 for Targets of 1500-1600
Feel Free to share your Feedback and Queries.