EquityPandit’s Outlook for SBI for the week (Dec 09, 2019 – Dec 13, 2019):

STATE BANK OF INDIA:

BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS

Stock closed the week on negative note losing -21.85%

Week High: 344.60

Week Low: 318

Week Range: 26.6

State Bank of India

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Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 318 levels, Minor resistance on the upside is capped around 331 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 303 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 339.

Stock is trading below 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 345 on upside and 290 on downside.