Signals, Powered By EquityPandit
SBIN Weekly Outlook and Analysis:
For the Week: (April 12,2021 – April 16,2021)
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
State Bank Of India Share Price : 353.00 (NSE)
SBI closed the Weekly on Negative Note Losing 4.76%
Weekly High: 369.20
Weekly Low: 347.60
Weekly Range: 21.60 points
Weekly Support & Resistance For SBIN:
| RESISTANCE 2 | 378 |
| RESISTANCE 1 | 365 |
| SUPPORT 1 | 343 |
| SUPPORT 2 | 334 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 343 levels, Minor resistance on the upside is capped around 365 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 @334 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 @ 378
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 378 on upside and 334 on downside.
On the daily chart we can see that the stock is facing hurdles near 370 level. As long as it remains below the same, weakness can be seen towards 345 level for coming days.
