EquityPandit’s Outlook for SBI for the week  (July 23, 2018 – July 27, 2018) : 

STATE BANK OF INDIA:

SBIN closed the week on positive note gaining around 1.50%.

As we have mentioned last week, that support for the stock lies in the zone of 255 to 258 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 245 to 250 where Fibonacci levels are lying. During the week the stock manages to hit a low of 250 and close the week around the levels of 261.

Support for the stock lies in the zone of 255 to 258 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 245 to 250 where Fibonacci levels are lying.

Minor resistance for the stock lies around 266 to 270. Resistance for the stock lies in the zone of 275 to 280 where long term moving averages and Fibonacci levels 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.