Signals, Powered By EquityPandit
SBIN Weekly Outlook and Analysis:
For the Week: (Aug 10,2020 – Aug 14,2020)
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
State Bank Of India Share Price: 190.65 NSE
Stock closed the week on flat note
Week High: 196.85
Week Low: 189.55
Week Range: 7.30 points
?Weekly Support & Resistance Levels for State Bank of India
| RESISTANCE 2 | 200 |
| RESISTANCE 1 | 195 |
| SUPPORT 1 | 189 |
| SUPPORT 2 | 185 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 189 levels, Minor resistance on the upside is capped around 195 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 @ 185 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 @ 200
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 200 on upside and 185 on downside.
The present structure of STATE BANK OF INDIA seems to be sideways to negative. Stock moving in upward rising wedge support and manage to close above Band Bollinger . On downside break below this support line will indicate the bigger degree down move.
