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

STATE BANK OF INDIA:

SBIN closed the week on negative note losing around 3.40%.

As we have mentioned last week, that support for the stock lies in the zone of 250 to 255 from where the stock has opened gap up and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 240 to 245 where the stock has taken support in the month of October-2017. During the week the stock manages to hit a low of 244 and close the week around the levels of 253.

Support for the stock lies in the zone of 250 to 255 from where the stock has opened gap up and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 240 to 245 where the stock has taken support in the month of October-2017.

Resistance for the stock lies in the zone of 270 to 275 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 285 to 290 where short & long term moving averages are lying.

Broad range for the stock in the coming week can be 240 to 245 on lower side & 270 to 275 on upper side.