Symmetrical triangle breakout in SBIN. 🔥🔥🔥
REASONS TO BUY:
For Banking companies, The primary source of Income is interest earned on various loans given to individuals and corporates. SBI has earned Rs 2,57,323.5922 Cr. revenue in the latest financial year. It has posted decent revenue growth of 13.60 % in last 3 Years.
In terms of advances, the bank reported 6.38 % YOY, rise . If you see 3 years advance growth, it stands at 13.96 %.
Currently the company has a CASA ratio of 44.23 %. It’s overall cost of liability stands at 4.48 %. Also, the total deposits from these accounts stood at Rs 32,41,620.7343 Cr.
The Indian Banking sector is rising rapidly due to infrastructure spending, favorable government policy, rising disposable income and increasing consumerism and easier access to credit.
PE is less than 15
Lastly, The banking industry is in boom with growing demand across India, I'm very bullish on the banking sector and the most undervalued banks stocks are in PSU space. I think the credit cycle has turned and going ahead there will be huge demand for money.
SHORT TERM TARGET: 486 (12-16W)
LONG TERM TARGET: 650 (52W)
I am NOT a SEBI registered advisor or a financial adviser. Any of my investment or trades i share here are provided for educational purposes only..
REASONS TO BUY:
For Banking companies, The primary source of Income is interest earned on various loans given to individuals and corporates. SBI has earned Rs 2,57,323.5922 Cr. revenue in the latest financial year. It has posted decent revenue growth of 13.60 % in last 3 Years.
In terms of advances, the bank reported 6.38 % YOY, rise . If you see 3 years advance growth, it stands at 13.96 %.
Currently the company has a CASA ratio of 44.23 %. It’s overall cost of liability stands at 4.48 %. Also, the total deposits from these accounts stood at Rs 32,41,620.7343 Cr.
The Indian Banking sector is rising rapidly due to infrastructure spending, favorable government policy, rising disposable income and increasing consumerism and easier access to credit.
PE is less than 15
Lastly, The banking industry is in boom with growing demand across India, I'm very bullish on the banking sector and the most undervalued banks stocks are in PSU space. I think the credit cycle has turned and going ahead there will be huge demand for money.
SHORT TERM TARGET: 486 (12-16W)
LONG TERM TARGET: 650 (52W)
I am NOT a SEBI registered advisor or a financial adviser. Any of my investment or trades i share here are provided for educational purposes only..