EquityPandit’s Outlook for SBI for the week (February 13, 2017 – February 17, 2017) :

STATE BANK OF INDIA:

SBIN closed the week on negative note losing around 0.40%.

As we have mentioned last week that minor support for the stock lies in the zone of 274 to 275. Support for the stock lies in the zone of 269 to 271 from where the stock broke out of the inverse H & S pattern. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 262. During the week the stock manages to hit a low of 271 and close the week around the levels of 276.

Minor support for the stock lies in the zone of 274 to 275. Support for the stock lies in the zone of 269 to 271 from where the stock broke out of the inverse H & S pattern. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 262.

Resistance for the stock lies in the zone of 277 to 279 from where the stock sold off in the month of November-2016. If the stock manages to close above these levels then the stock can move to the levels of 290 to 292 where the stock has formed a top in the month of November-2016.

Broad range for the stock in the coming week can be 265 to 267 on lower side to 283 to 285 on upper side.