EquityPandit’s Outlook for SBI for the week (Oct 21, 2019 – Oct 25, 2019):
STATE BANK OF INDIA:
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
Stock closed the week on positive note gaining 5.76%
Week High: 271.35
Week Low: 254
Week Range: 17.35
State Bank of India
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 264 levels, Minor resistance on the upside is capped around 271 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 @ 260 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 @ 275
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 282 on upside and 256 on downside.