EquityPandit’s Outlook for SBI for the week (July 13,2020 – July 17, 2020):
STATE BANK OF INDIA:
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
Stock closed the week on Positive note gaining 5.90%
Week High: 202.50
Week Low: 184.05
Week Range:18.45 Points
State Bank of India
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 188 levels, Minor resistance on the upside is capped around at 205.50 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 @184 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 @ 211
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish . EquityPandit’s Predicts Range for the week as 211 on upside and 184 on downside.
WEEKLY PIVOT LEVELS: