EquityPandit’s Outlook for SBI for the week (Aug 05, 2019 – Aug 09, 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 –9.97%
Week High: 346.70
Week Low: 307.05
Week Range: 39.65
| RESISTANCE 2 | 360.40 |
| RESISTANCE 1 | 334.40 |
| SUPPORT 1 | 294.75 |
| SUPPORT 2 | 381.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 292 levels, Minor resistance on the upside is capped around 322 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 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 @ 335
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 322 on upside and 292 on downside.
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