EquityPandit’s Outlook for SBI for the week (April 01, 2019 – April 05, 2019):
STATE BANK OF INDIA:
State Bank of India
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
Stock closed the week on positive note gaining +7.61%
Week High:: 320.80
Week Low: 293.80
Week Range: 27.00
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for SBI at 310- 312 levels, whereas minor resistance on the upside is capped around 325- 327 levels.
If SBI breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next major support levels lower side around 290- 292 if SBI breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 345- 347
Currently trend for the stock is trading in bullish trend as trading above 200 days exponential moving averages. EquityPandit predicts SBI range for the week is seen from 345- 347 on upside & 290- 292 on downside.