SBI Life Insurance Co. Ltd. - Technical Analysis Update

Support and Resistance Zones:
1.Key Support Zone: ₹1,385-₹1,463

• This zone aligns with the Fibonacci 0.236 retracement level and the recent reversal point, making it a strong support.
  

2.Immediate Resistance Levels:

• ₹1,555 (Fibonacci 0.382 retracement).
  
• ₹1,630 (Fibonacci 0.5 retracement).
  
• ₹1,705 (Fibonacci 0.618 retracement), a crucial level to watch.
  

3.Fibonacci Retracement Levels:
The stock has retraced sharply from its high of ₹1,943 and is showing signs of reversal near the 0.236 Fibonacci level. A breakout above ₹1,500 could confirm bullish momentum toward higher Fibonacci levels.

4.Volume Analysis:
Volume appears to be increasing near the support zone, indicating buying interest from market participants.
The Volume Profile indicates strong accumulation between ₹1,400-₹1,500.

5.Moving Averages:

• The stock is attempting to reclaim the 20-day EMA as a dynamic support.
  
• A crossover above the 50-day EMA could signal further bullish strength.
  

6.RSI (Relative Strength Index):

• RSI is recovering from oversold levels, indicating a possible trend reversal. A move above 50 would strengthen the bullish case.
  

7.Projection:

• If the stock sustains above ₹1,463, it could aim for ₹1,555 in the short term and ₹1,705 in the medium term.
  
• A break below ₹1,385 would invalidate this view and could lead to further downside.
  

Conclusion:
SBI Life Insurance is poised for a potential bounce-back. Traders can consider entries near the ₹1,450-₹1,470 range, targeting ₹1,555 and ₹1,705 with appropriate stop losses below ₹1,385.