EquityPandit’s Outlook for SBI for the week (April 22,2019 – April 26,2019):
STATE BANK OF INDIA:
State Bank of India
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
Stock closed the week on negative note losing-0.10%
Week High: 315.80
Week Low: 310.90
Week Range: 4.90
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for SBI at 305- 303 levels, whereas minor resistance on the upside is capped around 320- 322 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 295- 290 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 332- 335
Currently trend for the stock is trading in bullish trend as stock trading above 200 days exponential moving averages.
EquityPandit predicts SBI range for the week is seen from 332- 335 on upside & 295- 290 on downside.