SBIN Weekly Outlook and Analysis:
For the Week: (May 10, 2021 – May 14, 2021)
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
State Bank Of India Share Price: 358.25 (NSE)
SBI closed the Weekly on Positive Note Gaining 1.34%
Weekly High: 362.90
Weekly Low: 341.40
Weekly Range: 21.50 points
Weekly Support & Resistance For SBIN:
Technically on the daily charts, EquityPandit’s Analyst sees: Minor support on the downside lies at 345 levels, Minor resistance on the upside is capped around 367 levels.
If stock breaches minor support on the downside and closes below it we may see a fresh break down and stock can drag towards Major Support on the lower side @332 and If stock breaches minor resistance on the upside and closes above it we may see a fresh breakout and stock can head towards Major Resistances Level @ 376.
Stock is trading above 200 days exponential moving average, which suggests the long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 376 on the upside and 332 on the downside.
On the daily chart, we can see that stock was moving in the range of 345-370 in last week. If we look from an immediate short-term angle, the stock will not have any sustainable move unless this range is broke out.