EquityPandit’s Outlook for SBI for the week  (Sep 11, 2017 – Sep 15, 2017) :

STATE BANK OF INDIA:

SBIN closed the week on negative note losing around 2.30%.

As we have mentioned last week that support for the stock lies in the zone of 275 to 277 where 200 daily moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 268 to 270 where the stock has taken multiple support. During the week the stock manages to hit a low of 271 and close the week around the levels of 272.

Support for the stock lies in the zone of 268 to 270 where the stock has taken multiple support. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 262 from where the stock has broken out.

Resistance for the stock lies in the zone of 276 to 278 where 200 daily moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 286 to 288 where Fibonacci levels and short & medium term moving averages are lying.

Broad range for the stock in the coming week can be 264 to 266 on lower side & 292 to 294 on upper side.