Signals, Powered By EquityPandit
SBIN Weekly Outlook and Analysis:
For the Week: (March 15,2021 – March 19,2021)
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
State Bank Of India Share Price : 381.10 (NSE)
SBI closed the Weekly on Negative Note Losing 0.66%
Weekly High: 394.90
Weekly Low: 377.50
Weekly Range: 17.40 points
Weekly Support & Resistance For SBIN:
| RESISTANCE 2 | 401 |
| RESISTANCE 1 | 391 |
| SUPPORT 1 | 374 |
| SUPPORT 2 | 367 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 374 levels, Minor resistance on the upside is capped around 391 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 @367 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 @ 401
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 401on upside and 367on downside.
On daily chart STATE BANK OF INDIA share price closed below its important support of 385 level. For the near term, The level of 378 would be crucial as any breach of this level will invite incremental weakness. Any price correction should be seen as Buy on dips opportunity.
