EquityPandit’s Outlook for SBI for the week (April 18, 2016 – April 22, 2016):

STATE BANK OF INDIA:

SBIN closed the week on positive note gaining around 4.80%.

As we have mentioned last week that support for the stock lies in the zone of 170 to 175 where short term moving averages and gap created on 02-03-2016 are lying. If the stock manages to close below these levels then the stock can drift to the levels of 150 where monthly trend-line support for the stock is positioned. During the week the stock manages to hit a low of 180 and close the week around the levels of 191.

Support for the stock lies in the zone of 170 to 175 where short term moving averages and gap created on 02-03-2016 are lying. If the stock manages to close below these levels then the stock can drift to the levels of 150 where monthly trend-line support for the stock is positioned.

Resistance for the stock lies in the zone of 200 to 205 where 100 Daily SMA and 500 Weekly SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 225 where 1000 Daily SMA and 200 Weekly SMA is lying.

Broad range for the stock in the coming week can be 175 to 180 on lower side to 200 to 205 on upper side.