Signals, Powered By EquityPandit
SBIN Weekly Outlook and Analysis:
For the Week: (Aug 31,2020 – Sept 04,2020)
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
State Bank Of India Share Price : 224.85 (NSE)
SBI closed the Weekly on positive note gaining 13.34%
Weekly High: 225.90
Weekly Low: 198.60
Weekly Range: 27.30 points
Weekly Support & Resistance For SBIN:
| RESISTANCE 2 | 244 |
| RESISTANCE 1 | 234 |
| SUPPORT 1 | 207 |
| SUPPORT 2 | 189 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 207 levels, Minor resistance on the upside is capped around 234 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 @ 189 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 @ 244
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 244 on upside and 189 on downside.
On daily chart we can see STATE BANK OF INDIA is trading above upward rising wedge pattern and comfortably close above 218 which is 1.618% of retracement . Positive Bias was made with the help of Bollinger band.
