EquityPandit’s Outlook for SBI for the week (April 04, 2016 – April 08, 2016):

STATE BANK OF INDIA:

SBIN closed the week on negative note losing around 0.70%.

As we have mentioned last week that minor support for the stock lies in the zone of 190. Support for the stock lies in the zone of 170 to 175 where short term moving averages are lying. If the stock manages to close below this levels then the stock can drift to the levels of 150 where monthly trend-line support for the stock is positioned. During the week the stock manages to hit a low of 187 and bounce to close the week around the levels of 195.

Minor support for the stock lies in the zone of 190. Support for the stock lies in the zone of 170 to 175 where short term moving averages are lying. If the stock manages to close below this levels then the stock can drift to the levels of 150 where monthly trend-line support for the stock is positioned.

Resistance for the stock lies in the zone of 205 to 210 where 100 Daily SMA and 500 Weekly SMA is lying. If the stock manages to close above this levels then the stock can move to the levels of 225 where 1000 Daily SMA and 200 Weekly SMA is lying.

Broad range for the stock in the coming week can be 180 to 185 on lower side to 205 to 210 on upper side.