EquityPandit’s Outlook for SBI for the week (June 27, 2016 – July 01, 2016):

STATE BANK OF INDIA:

SBIN closed the week on negative note losing around 1.00%.

As we have mentioned last week that support for the stock lies in the zone of 195 to 200 where short term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of 180 from where 100 Daily SMA is lying. During the week the stock manages to hit a low of 202 and close the week around the levels of 211.

Support for the stock lies in the zone of 195 to 200 where short term moving averages are lying. If the stock manages to close below these levels then the stock can move to the levels of 180 from where 100 Daily SMA is lying.

Minor resistance for the stock lies in the zone of 218. Resistance for the stock lies in the zone of 225 to 230 from where the stock has sold off in the month of Dec – 2015 and 200 Weekly SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 245 to 248 where 500 Daily SMA is lying.

Broad range for the stock in the coming week can be 195 to 198 on lower side to 222 to 225 on upper side.