Signals, Powered By EquityPandit
SBIN Weekly Outlook and Analysis:
For the Week: (Jan 18,2021 – Jan 22,2021)
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
State Bank Of India Share Price : 303.85 (NSE)
SBI closed the Weekly on Positive Note Gaining 6.24%
Weekly High: 310.90
Weekly Low: 277.90
Weekly Range: 33.00 points
Weekly Support & Resistance For SBIN:
| RESISTANCE 2 | 330 |
| RESISTANCE 1 | 317 |
| SUPPORT 1 | 284 |
| SUPPORT 2 | 264 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 284 levels, Minor resistance on the upside is capped around 317 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 @ 264 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 @ 330
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 330 on upside and 264 on downside.
The present structure shows that STATE BANK OF INDIA looks to be sideways to positive. Move towards 315 levels can be expected on upside. For the near term level 293 has now become support for stock.
