Signals, Powered By EquityPandit
SBIN Weekly Outlook and Analysis:
For the Week: (Aug 17,2020 – Aug 21,2020)
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
State Bank Of India Share Price: 196.50 (NSE)
SBI closed the Weekly on positive note gaining 3.06%
Weekly High: 207.30
Weekly Low: 191.70
Weekly Range: 15.60 points
Weekly Support & Resistance For SBIN:
| RESISTANCE 2 | 214 |
| RESISTANCE 1 | 205 |
| SUPPORT 1 | 190 |
| SUPPORT 2 | 183 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 190 levels, Minor resistance on the upside is capped around 205 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 @ 183 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 @ 214
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 214 on upside and 183 on downside.
The present structure of STATE BANK OF INDIA seems to be sideways . Stock moving in upward rising wedge support and manage to close above Band Bollinger . On downside break below this support line will indicate the bigger degree down move.
