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in our below post we already mention SBIN TECHNICAL study and we already given you levels below which it fall very badly.
so technically we inform you that is going to fall major below 2320 level and its done before result of SBIN and due to poor result its not able to show any recovery and given major fall today. hope our technical information helped you a lot for understanding its trend.
In our above technical research report of SBIN we clearly mention that its having support at 2320-40 level and today SBIN open at 2355 and after breaking our support level it has given big fall of almost 170 rs. till 2150 and we estimated positional selling target of rs. 300 and today almost 70% movement done..
just see the power of charts before its result coming chart has already shown weakness below 2320 and see the effect of technical level.
fundamental reson for falling – SBIN result output
1.India’s banking behemoth the – State Bank of India(SBI) on Thursday reported nearly 19 percent year-on-year drop in its fourth quarter (January – March, FY13) net profit at Rs 3,300 crore. Higher provisions against non-performing assets (NPAs) and marginal growth in other income dented the bank’s profit margin.
2. Net interest income or the difference between interest earned and paid out, slipped more than 5 percent y-o-y o Rs 11,080 crore. Provisions against NPAs shot up 40 percent y-o-y to about Rs 4,000 crore. Total provisions increased 33 percent to Rs 4,180 crore during the same period. Other income inched up 3 percent to Rs 5,547 crore.
3. Gross NPA ratio rose to 4.75 percent as compared with 4.44 percent a year back. Net NPA ratio stood at 2.10 percent as against 1.82 percent during the same time.
4. SBI restructured Rs 8,669 crore loans during the January – March period on incremental basis. This was a little higher than the market expectation of Rs 8,000 crore.
5. However, the bank’s standalone net profit rose 20 percent y-o-y to Rs 14,105 crore for the year ended March 31, 2013. Consolidated net profit increased 16 percent y-o-y to Rs 18,323 crore.
6. The bank expanded its loans by 21 percent to Rs 10.46 lakh crore on standalone basis, surpassing the industry credit growth at around 14 percent in 2012-13. Its consolidated credit (including its group banks) increased 20 percent y-o-y to Rs 13.93 lakh crore.
7. Deposits grew a little more than 15 percent y-o-y basis to Rs 12.03 lakh crore. Consolidated deposit book too rose at a similar pace to Rs 16.27 lakh crore.
8. During the year SBI provided around Rs 945 crore cumulatively on account of wage revision.
9. Upgrades and recoveries together stood Rs 5718 crore as against Rs 2,797 crore in the October – December quarter.
