EquityPandit’s Outlook for SBI for the week  (July 02, 2018 – July 06, 2018) : 

STATE BANK OF INDIA:

SBIN closed the week on negative note losing around 5.00%.

As we have mentioned last week, that minor support for the stock lies around 267 to 270. Support for the stock lies in the zone of 260 to 263 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 250 to 255 where Fibonacci levels are lying. During the week the stock manages to hit a low of 255 and close the week around the levels of 259.

Support for the stock lies in the zone of 258 to 260 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 250 to 255 where Fibonacci levels are lying.

Minor resistance for the stock lies around 268 to 270. Resistance for the stock lies in the zone of 275 to 280 where long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 285 to 290 where Fibonacci levels are lying.

Broad range for the stock in the coming week can be 245 to 250 on lower side & 275 to 280 on upper side.