SBIN Weekly Outlook and Analysis:

For the Week: (Aug 03,2020 – Aug 07,2020)

BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS

STATE BANK OF INDIA SHARE PRICE: 191.45 NSE

Stock closed the week on negative note losing 0.26%

Week High: 195.25

Week Low: 185.75

Week Range: 9.5 points

?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 196 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 @ 181 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 @ 200

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 200 on upside and 181 on downside.

The present structure shows that STATE BANK OF INDIA share price moving in upward rising wedge pattern. Stock comfortably closed above 100 DMA. On downside break below Bollinger band will indicate the bigger degree down move.

SBIN Weekly Support  & Resistance Levels: