EquityPandit’s Outlook for SBI for the week (Jan 13, 2020 – Jan 17, 2020):
STATE BANK OF INDIA:
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
Stock closed the week on negative note losing -0.40%
Week High: 337.80
Week Low: 311
Week Range: 326.8
State Bank of India
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 328 levels, Minor resistance on the upside is capped around 335 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 @ 324 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 @ 340.
Stock is trading below 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 344 on upside and 321 on downside.