EquityPandit’s Outlook for SBI for the week  (Feb 12, 2018 – Feb 16, 2018) : 

STATE BANK OF INDIA:

SBIN closed the week on negative note losing around 0.30%.

As we have mentioned last week, that support for the stock lies in the zone of 290 to 292 where Fibonacci levels and long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 280 to 285 where the stock has opened gap up. During the week the stock manages to hit a low of 283 and close the week around the levels of 296.

Support for the stock lies in the zone of 290 to 292 where Fibonacci levels and long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 280 to 285 where the stock has opened gap up.

Resistance for the stock lies in the zone of 305 to 310 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 320 to 325 from where the stock broke down after consolidation.

Broad range for the stock in the coming week can be 280 to 285 on lower side & 315 to 320 on upper side.