Breakdown stock: SBI can tank 16% if this level is broken. Details here

SBI is testing the weekly super trend line support after 81 weeks and the 20-month moving average support after 4 years. Chart suggests that the overall bias is likely to remain tepid below Rs 800.

SBI stock slipped 2.5 per cent to a low of Rs 733.50 in intra-day deals on Friday a day after India's largest state-run bank announced its Q3 earnings. At 11:07 hrs., SBI was trading with a loss of 1.2 per cent at Rs 744 on the BSE. In comparison, the BSE Sensex was up 27 points at 78,085, and the Nifty quoted around 23,600 levels.  The Sensex and the Nifty had recovered from the day's low of 77,730 and 23,493 as market reacted to the RBI Policy decision to lower repo rate by 25 basis points.  Back to SBI, on the earnings front, the state-run bank reported an 84 per cent year-on-year (YoY) surge in Q3FY25 standalone net profit at Rs 16,891 crore as against Rs 9,164 crore in the corresponding December 2023 quarter. The bank's total income increased by 8.7 per cent YoY to Rs 1,28,467 crore.  Post the earnings, analysts have cut earnings estimates for SBI, factoring-in the slight miss in December quarter earnings. Even as brokerages have maintained a 'Buy' call on the stock, some of them have reduced the share price target. READ ANALYSIS  On the bourses, SBI stock has declined nearly 6 per cent in the last three trading sessions. Technically, the stock is seen testing support around its weekly super trend line at Rs 740 - a key indicator the stock has held since July 21, 2023; and the 20-MMA (Monthly Moving Average) at Rs 728 - the stock has been trading above this moving average since January 2021. As such, the support zone of Rs 728 - Rs 740 holds the key for the near-term trend on SBI. CLICK HERE FOR THE CHART  Against this background, here are the key levels to track on SBI stock and likely trend ahead.  SBI  Current Price: Rs 744  Downside Risk: 16%  Support: Rs 740; Rs 728; Rs 693  Resistance: Rs 759; Rs 780; Rs 800  Amid the recent 3-day fall, SBI stock has slipped back below its 20-DMA (Daily Moving Average), which stands at Rs 759 and is now seen testing support around the lower-end of the Bollinger Bands on the daily chart at Rs 738. Thus broadly speaking, as explained above, the Rs 728 - Rs 740 range is expected to act as a crucial support zone for the stock.    In case this support zone is violated, SBI can potentially tumble towards Rs 625 levels, shows the long-term chart. Interim support for the stock can be anticipated around Rs 693 - wherein stands the 100-WMA (Weekly Moving Average)  On the other hand, the stock will need to break and trade consistently above Rs 800-mark to arrest the present negative sentiment at the counter. Interim hurdles for the stock exist at Rs 759 and Rs 780 levels.