EquityPandit’s Outlook for SBI for the week (July 27,2020 – July 31, 2020):
BSE: 500112 | NSE: SBIN | ISIN: INE062A01020 | SECTOR: BANKS
Stock closed the week on positive note gaining 2%.
SBI Share Price: 191.95 (NSE)
Week High: 199.10
Week Low: 188.75
Week Range: 10.35
State Bank of India
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 187 levels, Minor resistance on the upside is capped around 197 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 @ 183 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 @ 202
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 202 on upside and 183 on downside.
WEEKLY PIVOT LEVELS: