EquityPandit’s Outlook for SBI for the week  (Jan 07, 2019 – Jan 11, 2019) : 

STATE BANK OF INDIA:

SBIN closed the week on positive note gaining around 1.00%.

As we have mentioned last week, that minor support for the stock lies in the zone of 286 to 288. Support for the stock lies in the zone of 275 to 280 where Fibonacci levels and short; medium & long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 265 where Fibonacci levels are lying. During the week the stock manages to hit a low of 290 and close the week around the levels of 297.

Minor support for the stock lies in the zone of 285 to 290. Support for the stock lies in the zone of 275 to 280 where Fibonacci levels and short; medium & long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 265 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 300 to 305 where Fibonacci levels and high for the month of November-2018 and December-2018 are lying. If the stock manages to close above these levels then the stock can move to the levels of 310 to 315 where high for the month of September-2018 is lying.

Broad range for the stock in the coming week can be 280 to 285 on lower side & 310 to 315 on upper side.