EquityPandit’s Outlook for SBI for the week (June 06, 2016 – June 10, 2016):

STATE BANK OF INDIA:

SBIN closed the week on absolutely flat note.

As we have mentioned last week that resistance for the stock lies in the zone of 200 to 205 where 500 Weekly SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 215 where 200 Daily SMA is lying. During the week the stock manages to hit a high of 208 and close the week around the levels of 197.

Support for the stock lies in the zone of 180 to 183 where short term moving averages and 100 Daily SMA are lying. If the stock manages to close below these levels then the stock can move to the levels of 163 from where the stock has opened gap up on 02-03-2016.

Resistance for the stock lies in the zone of 205 to 215 where 500 Weekly SMA and 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 225 to 230 from where the stock has sold off in the month of Dec – 2015.

Broad range for the stock in the coming week can be 180 to 183 on lower side to 208 to 212 on upper side.