EquityPandit’s Outlook for SBI for the week  (Nov 27, 2017 – Dec 01, 2017) :

STATE BANK OF INDIA:

SBIN closed the week on negative note losing around 1.60%.

As we have mentioned last week, that minor support for the stock lies in the zone of 331 to 333. Support for the stock lies in the zone of 325 to 327 where trend-line joining earlier high is lying. If the stock manages to close below these levels then the stock can drift to the levels of 310 to 315 from where the stock broke out of May-2017 and July-2017 highs. During the week the stock manages to hit a low of 327 and close the week around the levels of 332.

Minor support for the stock lies in the zone of 331 to 333. Support for the stock lies in the zone of 325 to 327 where trend-line joining earlier high is lying. If the stock manages to close below these levels then the stock can drift to the levels of 310 to 315 from where the stock broke out of May-2017 and July-2017 highs.

Minor resistance for the stock lies in the zone of 338 to 340. Resistance for the stock lies in the zone of 345 to 350 where life time high for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 360 to 365.

Broad range for the stock in the coming week can be 310 to 315 on lower side & 350 to 355 on upper side.