EquityPandit’s Outlook for SBI for the week (May 26, 2020 – May 29, 2020):
STATE BANK OF INDIA:
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
Stock closed the week on Negative note losing 9.35%
Week High: 166.40
Week Low: 149.45
Week Range: 16.95 Points
State Bank of India
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 144.80 levels, Minor resistance on the upside is capped around at 161 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 @138 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 @ 168.65
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish . EquityPandit’s Predicts Range for the week as 168.65 on upside and 138 on downside.
Weekly Pivot Levels: