EquityPandit’s Outlook for State Bank Of India for week (July 20, 2015 – July 24, 2015):

STATE BANK OF INDIA:

State Bank Of India (NSE: SBIN) closed the week on absolutely flat note.

The stock has been facing stiff resistance in the range of 270 to 280 where 100 Daily SMA and trend-line are positioned and the stock hit the high of 274.35 on 13/07/2015 and retraced to the levels of 267.

The stock has been consolidating in the range of 265 to 275 since last 2 weeks.

The stock is finding it difficult to go past the stiff resistance zone of 275, if the stock closes above the levels of 275 we may see stock moving towards the levels of 300.

Support for the stock lies in the range of 265 where 200 Daily SMA, short term moving averages and trend-line support are positioned.

Broad range for the stock in the coming week can be 260 – 265 on lower side to 280 – 290 on upper side.