SBI Outlook for the Week (Aug 31,2020 – Sept 04,2020)

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.

SUPPORT 2.
189

For the Week: (Aug 31,2020– Sept 04,2020).

Weekly Low: 198.60.

SUPPORT 1.
207.

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.

SECTOR: BANKS.

RESISTANCE 1.
234.

RESISTANCE 2.
244.

.

SECTOR: BANKS.

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.