EquityPandit’s Outlook for SBI for the week  (June 11, 2018 – June 15, 2018) : 

STATE BANK OF INDIA:

SBIN closed the week on positive note gaining around 2.40%.

As we have mentioned last week, that minor support for the stock lies around 258 to 260. Support for the stock lies in the zone of 250 to 255 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 235 to 240 where break out levels are lying. During the week the stock manages to hit a low of 261 and close the week around the levels of 273.

Minor support for the stock lies around 265 to 268. Support for the stock lies in the zone of 250 to 255 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 235 to 240 where break out levels are lying.

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 long term moving averages and Fibonacci levels are lying.

Broad range for the stock in the coming week can be 255 to 260 on lower side & 280 to 285 on upper side.