EquityPandit’s Outlook for SBI for the week  (Sep 03, 2018 – Sep 07, 2018) : 

STATE BANK OF INDIA:

SBIN closed the week on positive note gaining around 3.00%.

As we have mentioned last week, that resistance for the stock lies in the zone of 300 to 305 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 320 to 325. During the week the stock manages to hit high of 312 and close the week around the levels of 310.

Support for the stock lies in the zone of 300 to 305 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 285 to 290 from where the stock broke out of June-2018 high and Fibonacci levels are lying.

Resistance for the stock lies in the zone of 320 to 325 where high for the month of August-2018 is lying. If the stock manages to close above these levels then the stock can move to the levels of 335 to 340.

Broad range for the stock in the coming week can be 290 to 295 on lower side & 330 to 335 on upper side.