Signals, Powered By EquityPandit
SBIN Weekly Outlook and Analysis:
For the Week: (Sept 21,2020 – Sept 25,2020)
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
State Bank Of India Share Price : 192.60 (NSE)
SBI closed the Weekly on negative note losing 4.98%
Weekly High: 206.20
Weekly Low: 189.70
Weekly Range: 16.50 points
Weekly Support & Resistance For SBIN:
| RESISTANCE 2 | 212 |
| RESISTANCE 1 | 202 |
| SUPPORT 1 | 186 |
| SUPPORT 2 | 180 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 186 levels, Minor resistance on the upside is capped around 202 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 @ 180 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 @ 212
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 212 on upside and 180 on downside.
On the daily chart we can see that , SBI share price is moving in the form of Head & Shoulder pattern . Stock manage to close above the break point level of the same pattern . Further it is important to see whether price reverse or break down from the same.
