EquityPandit’s Outlook for SBI for the week  (Nov 13, 2017 – Nov 17, 2017) :

STATE BANK OF INDIA:

SBIN closed the week on positive note gaining around 2.50%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 307 and close the week around the levels of 333.

Support 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 below these levels then the stock can drift to the levels of 310 to 315 from where the stock broke out of May-2017 and July-2017 highs.

Resistance for the stock lies in the zone of 345 to 350 where life time high for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 360 to 365.

Broad range for the stock in the coming week can be 305 to 310 on lower side & 350 to 355 on upper side.