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SBIN Analysis :
Overview :
- SBIN is currently trading at 576.
- 570 is the max pain point, which suggests potential downward pressure on the stock.
- On the call side, there are more sellers than buyers at the 580 strike price.
- On the put side, there may be more buyers than sellers at the 580 strike price, but the increase in OI is slow.
- In-the-money call option sellers are winding up their positions, causing a decrease in OI in this category.
- OI is increasing in out-of-the-money call options, suggesting interest from buyers.
- Support levels for the stock are at 575 and 570, while resistance zones are at 585 and 590.
- Call-side OI decreased by 21.96 lacks, while put-side OI increased by 57 lacks for May and June expiries.
- The current PCR of 0.78 indicates bearish sentiment in the short term.
- 576 is a crucial support level for the stock, with the next support zone at 570.
- 583 is a crucial resistance zone, with the next resistance zone at 589.
- Seven oscillator signals indicate a neutral signal, while three indicate a sell signal.
- 13 signals of moving averages indicate a buy signal. It’s important to do your research before making any investment decisions. For more insights and analysis on stocks, check out www.tickseat.com.
Research & Analysis
State Bank of India (SBIN)
State Bank of India (SBIN) is currently trading at 576. Based on the available data, we can make some predictions about the future direction of the stock.
Firstly, the fact that 570 is the max pain point suggests that there may be some downward pressure on the stock. This could be because there are a large number of call options at the 580 strike price, with 46.7 lakh OI and a -7.5% OI change. This data indicates that there are more sellers than buyers at this price point, which could push the stock down.
On the put side, there are 21.2 lakh OI with a +20.4% OI change at the 580 strike price, suggesting that there may be more buyers than sellers at this level. However, the increase in OI is slow, especially for out-of-the-money strikes.
Additionally, sellers of in-the-money call options are winding up their positions, which is causing a decrease in OI in this category. On the other hand, OI is increasing in the out-of-the-money call options, suggesting that buyers are interested in purchasing these options.
In OI analysis, we have found that 575 and 570 are support levels for the stock, while 585 and 590 are resistance zones. Looking at May and June expiries, call-side OI has decreased by 21.96 lahks, while put-side OI has increased by 29.57 lakh. This data could indicate that investors are more bullish on the put side compared to the call side.
The current PCR of 0.78 indicates that there are more put options than call options in the market. This could suggest that investors are bearish on the stock in the short term.
In chart analysis, 576 is a crucial support level for the stock, and if it breaks, the next support zone is at 570. Conversely, 583 is a crucial resistance zone, and if it breaks, the next resistance zone is at 589.
Finally, seven oscillator signals are indicating a neutral signal, while three are indicating a sell signal. However, 13 signals of moving averages are indicating a buy signal.
In conclusion, based on the available data, we can predict that SBIN may face some downward pressure in the short term, with a support zone at 570. However, there is also potential for the stock to rebound, especially if it breaks through the resistance zone at 583. As always, it’s important to do your own research before making any investment decisions. For more insights and analysis on stocks, check out www.tickseat.com.