SBI LIFE INSURANCE- On the edge of outperforming the nifty
Technical View: SBI LIFE has broken out of the inverted head and shoulders pattern on the daily time frame at 1120, opening up upside movement to 1250-1300 from the current level.
Making a base after a breakout is an ideal setup for being bullish on this counter.
Fundamental View: For most players, life insurance premium growth – led by traditional products – should be more encouraging than what was recorded for the entire quarter. We anticipate that persistence will return to pre-crisis levels, mitigating the crisis’s most potent threat,” Edelweiss said.,