SBI Stock Rally Continues: Breakout Above ₹1,232 Could Trigger Fresh Highs

SBI Stock: The momentum of public sector banks in the Indian stock market continues unabated, and market analysts are closely watching the shares of State Bank of India (SBI), the sector leader. Following a strong recovery on Friday’s trading session, SBI shares closed at ₹1,216.10, very close to its 52-week high of ₹1,225.50. The biggest question today is whether the stock will shatter its previous record and move towards the psychological level of ₹1,250, or will profit-booking at higher levels push it down slightly.

This morning, signals from global markets and the Nifty appear quite positive, which could directly benefit banking heavyweights. A strong bullish pattern is forming on the technical charts for SBI, and it is currently trading well above all its important moving averages, such as the 50-DMA and 200-DMA.

Market experts believe that the government’s emphasis on infrastructure in Budget 2026 and the bank’s recent record-breaking quarterly results have reinvigorated investors, maintaining strong buying sentiment. For today’s session, the ₹1,192 and ₹1,200 levels will act as strong support, while a move above ₹1,232 will signal a move to new highs.

Based on current data and market sentiment, two main possibilities emerge for Monday. If the stock manages to hold above the ₹1,220 level this morning, it could witness a significant short-covering rally, taking it to the first target of ₹1,235 and the second target of ₹1,250.

Conversely, since the stock is very close to its all-time high, some investors may attempt to book profits at higher prices. If selling pressure increases and the stock slips below ₹1,210, it will likely re-find support in the ₹1,195 zone, but experts believe that even if it declines, significant buyers could push it higher.

Most leading brokerage houses are currently recommending “buy on dips” on the State Bank of India, as the bank’s gross NPA has fallen to 1.57 percent, a significant indication of its improving asset quality. Short-term traders are advised to set a strict stop-loss at ₹1,190 and build their positions with a target of ₹1,240.

Long-term investors are advised to hold this stock, as SBI, with a market cap of ₹11.22 lakh crore, is not only a safe investment but also known for providing excellent dividends to its investors from time to time.