EquityPandit’s Outlook for SBI for the week (September 06, 2016 – September 09, 2016) :

STATE BANK OF INDIA:

SBIN closed the week on positive note gaining around 3.20%.

As we have mentioned last week that support for the stock lies in the zone of 245 to 247 where 500 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 233 to 235. During the week the stock manages to hit a low of 244 and close the week around the levels of 255.

Support for the stock lies in the zone of 245 to 247 where 500 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 233 to 235.

Resistance for the stock lies in the zone of 257 to 260 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 275 to 280.

Broad range for the stock in the coming week can be 245 to 247 on lower side to 265 to 267 on upper side.