On daily chart we can see STATE BANK OF INDIA is trading above upward increasing wedge pattern and conveniently close above 218 which is 1.618% of retracement. Favorable Bias was made with the help of Bollinger band.
For the Week: (Aug 31,2020– Sept 04,2020).
Weekly Low: 198.60.
If stock breaches small assistance on the drawback and closes listed below it we might see fresh break down and stock can drag towards Major Support on lower side @ 189 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 @ 244.
SBI closed the Weekly on positive note acquiring 13.34%.
Weekly Support & & Resistance For SBIN:.
Technically on the daily charts EquityPandits Analyst see: Minor support on the disadvantage lies at 207 levels, Minor resistance on the upside is capped around 234 levels.
Weekly High: 225.90.
State Bank Of India Share Price: 224.85 (NSE).
Weekly Range: 27.30 points.
Stock is trading below 200 days rapid moving average, suggests long term pattern is bearish. EquityPandits Predicts Range for the Weekly as 244 on upside and 189 on downside.