EquityPandit’s Outlook for SBI for the week  (Nov 06, 2017 – Nov 10, 2017) :

STATE BANK OF INDIA:

SBIN closed the week on positive note gaining around 4.50%.

As we have mentioned last week, that minor support for the stock lies in the zone of 305 to 308. Support for the stock lies in the zone of 288 to 292 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 275 to 280 short, medium and long term moving averages are lying. During the week the stock manages to hit a low of 304 and close the week around the levels of 325.

Support for the stock lies in the zone of 310 to 315 from where the stock broke out of May-2017 and July-2017 highs. If the stock manages to close below these levels then the stock can drift to the levels of 290 to 295 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 325 to 327 where trend-line joining earlier high is lying. If the stock manages to close above these levels then the stock can move to the levels of 345 to 350 where life time high for the stock is lying.

Broad range for the stock in the coming week can be 300 to 305 on lower side & 345 to 350 on upper side.