EquityPandit’s Outlook for SBI for the week (Oct 14, 2019 – Oct 18, 2019):
STATE BANK OF INDIA:
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
Stock closed the week on positive note gaining 1.84%
Week High: 262
Week Low: 244.35
Week Range: 17.65
State Bank of India
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 250 levels, Minor resistance on the upside is capped around 258 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 @ 244 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 @ 262
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 265 on upside and 241 on downside.