EquityPandit’s Outlook for SBI for the week (Mar 18, 2019 – Mar 22, 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 +5.85%
Week High:: 297.70
Week Low: 281.25
Week Range: 16.45
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for SBI at 285- 280 levels, whereas minor resistance on the upside is capped around 305- 310 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 255- 250 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 320-325
Currently trend for the stock is sideways as stock trading very near or at 200 days exponential moving averages. EquityPandit predicts SBI range for the week is seen from 320- 325 on upside & 255- 250 on downside.