SBI

SBI Outlook for the Week (July 20,2020 – July 24, 2020)

EquityPandit’s Outlook for SBI for the week (July 20,2020 – July 24, 2020):

STATE BANK OF INDIA:

BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS

Stock closed the week on Negative note losing 3.80%

Week High: 199.80

Week Low: 181.65

Week Range:18.15 Points

SBIN

State Bank of India

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 183.50 levels, Minor resistance on the upside is capped around at 192 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 @180 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 @ 197

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish . EquityPandit’s Predicts Range for the week as 197 on upside and 180 on downside.

 

WEEKLY PIVOT LEVELS:

RESISTANCE 2  208
RESISTANCE 1  197
SUPPORT 1  180
SUPPORT 2 172

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