EquityPandit’s Outlook for SBI for the week (May 13, 2019 – May 17,2019):
STATE BANK OF INDIA:
State Bank of India
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
Stock closed the week on negative note losing-0.36%
Week High: 309.15
Week Low: 298.10
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 292– 290 levels, Minor resistance on the upside is capped around 313– 315 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 280– 282 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 330– 331
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 331- 330 on upside and 280– 282 on downside.