EquityPandit’s Outlook for SBI for the week  (Sep 25, 2017 – Sep 29, 2017) :

STATE BANK OF INDIA:

SBIN closed the week on negative note losing around 3.50%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 261 and close the week around the levels of 262.

Support for the stock lies in the zone of 260 to 262 from where the stock has broken out. If the stock manages to close below these levels then the stock can drift to the levels of 250 to 252 where long term Fibonacci levels are lying.

Minor resistance for the stock lies in the zone of 264 to 266. Resistance for the stock lies in the zone of 269 to 271 from where the stock has broken down from multiple support zone. If the stock manages to close above these levels then the stock can move to the levels of 276 to 278 where 200 daily moving averages are lying.

Broad range for the stock in the coming week can be 250 to 252 on lower side & 272 to 274 on upper side.