Signals, Powered By EquityPandit
SBIN Weekly Outlook and Analysis:
For the Week: (Aug 24,2020 – Aug 28,2020)
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
State Bank Of India Share Price : 198.40 (NSE)
SBI closed the Weekly on positive note gaining 0.96%
Weekly High: 201.50
Weekly Low: 191.50
Weekly Range: 10 points
Weekly Support & Resistance For SBIN:
| RESISTANCE 2 | 207 |
| RESISTANCE 1 | 203 |
| SUPPORT 1 | 193 |
| SUPPORT 2 | 187 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 193 levels, Minor resistance on the upside is capped around 203 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 @ 187 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 @ 207
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 207 on upside and 187 on downside.
The present structure of STATE BANK OF INDIA seems to be sideways . 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.
