EquityPandit’s Outlook for SBI for the week  (Sep 18, 2017 – Sep 22, 2017) :

STATE BANK OF INDIA:

SBIN closed the week on absolutely flat note.

As we have mentioned last week, that resistance for the stock lies in the zone of 276 to 278 where 200 daily moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 286 to 288 where Fibonacci levels and short & medium term moving averages are lying. During the week the stock manages to hit a high of 277 and close the week around the levels of 271.

Support for the stock lies in the zone of 268 to 270 where the stock has taken multiple support. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 262 from where the stock has broken out.

Resistance for the stock lies in the zone of 276 to 278 where 200 daily moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 286 to 288 where Fibonacci levels and short & medium term moving averages are lying.

Broad range for the stock in the coming week can be 260 to 262 on lower side & 282 to 284 on upper side.