The Waiting Game: Why Patience Is Key for SBI Investors

At times, as an analyst, you feel that enough is enough. And when we look at SBI, we experience that same feeling. Despite multiple attempts, we never got any sort of trade here. The trigger points which we discussed never broke on either side. But we will keep trying, and hopefully this time it should go through. As we speak, the setup is bullish here, but we would still prefer to wait until the stock takes out 856 on the upside. Once that’s done, we would then anticipate a rally toward 897 and 928 on a cash basis on the upside, and maybe even more than that. But for now, we would restrict ourselves until then. On the time cycle front, as long as the stock sustains above the August 11th intraday high, the setup is bullish, and it’s just a matter of time before 856 is taken out on the upside.