Signals, Powered By EquityPandit
SBIN Weekly Outlook and Analysis:
For the Week: (May 24,2021 – May 28,2021)
BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS
State Bank Of India Share Price : 401.20 (NSE)
SBI closed the Weekly on Positive Note Gaining 11.31%
Weekly High: 404.40
Weekly Low: 363.65
Weekly Range: 40.75 points
Weekly Support & Resistance For SBIN:
| RESISTANCE 2 | 430 |
| RESISTANCE 1 | 415 |
| SUPPORT 1 | 375 |
| SUPPORT 2 | 350 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 375 levels, Minor resistance on the upside is capped around 415 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 @350 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 @ 430
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 430 on upside and 350 on downside.
On the daily chart we can see that stock seems to be positive. A break above 405 can take price towards 420 or higher levels as long as 388 remain intact on downside.
