EquityPandit’s Outlook for SBI for the week (March 16, 2020 – March 20, 2020):

STATE BANK OF INDIA:

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

Stock closed the week on negative note losing -9.70%

Week High: 262.75

Week Low: 184.90

Week Range: 77.85

State Bank of India

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 232 levels, Minor resistance on the upside is capped around 248 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 @ 208 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 @ 264.

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 280 on upside and 150 on downside.

Weekly Pivot Levels: