EquityPandit’s Outlook for SBI for the week (June 1, 2020 – June 5, 2020):

STATE BANK OF INDIA:

BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS

Stock closed the week on positive note gaining 6.95%

Week High: 162.40

Week Low: 150.20

Week Range: 12.20 Points

State Bank of India

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 154.50 levels, Minor resistance on the upside is capped around at 166.25 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 @150.30 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 @ 170.70

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish . EquityPandit’s Predicts Range for the week as 170.70 on upside and 150.30 on downside.

Weekly Pivot Levels: