EquityPandit’s Outlook for SBI for the week  (Apr 30, 2018 – May 04, 2018) : 

STATE BANK OF INDIA:

SBIN closed the week on positive note gaining around 0.60%.

As we have mentioned last week, that support for the stock lies in the zone of 235 to 240 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 225 to 230 where long term Fibonacci levels and lows for the month of March-2018 are lying. During the week the stock manages to hit a low of 232 and close the week around the levels of 243.

Support for the stock lies in the zone of 235 to 240 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 225 to 230 where long term Fibonacci levels and lows for the month of March-2018 are lying.

Resistance for the stock lies in the zone of 250 to 255 where Fibonacci levels and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 265 to 270 where Fibonacci levels and medium term moving averages are lying.

Broad range for the stock in the coming week can be 225 to 230 on lower side & 255 to 260 on upper side.