SBI Outlook for the Week (Sept 07,2020 – Sept 11,2020)

ASSISTANCE 1.
197.

For the Week: (Sept 07,2020– Sept 11,2020).

SECTOR: BANKS.

Weekly Range: 25.65 points.

If stock breaches minor support on the drawback and closes below it we might see fresh break down and stock can drag towards Major Support on lower side @ 188 and If stock breaches minor resistance on the advantage and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 240.

RESISTANCE 1.
223.

Weekly High: 231.55.

BSE: 500112

Weekly Support & & Resistance For SBIN:.

Weekly Low: 205.90.

On the daily chart we can see that, Stock bounce off from 2.618% of Fibonacci retracement level. Stock can take support from 100 EMA and around 204-203 levels. Only Move below this support will drag rate more towards down.

Stock is trading below 200 days exponential moving average, recommends long term pattern is bearish. EquityPandits Predicts Range for the Weekly as 240 on benefit and 188 on disadvantage.

RESISTANCE 2.
240.

Technically on the day-to-day charts EquityPandits Analyst see: Minor assistance on the drawback lies at 197 levels, Minor resistance on the upside is capped around 223 levels.

State Bank Of India Share Price: 206.60 (NSE).

ASSISTANCE 2.
188.

SBI closed the Weekly on negative note losing 8.11%.

On the everyday chart we can see that, Stock bounce off from 2.618% of Fibonacci retracement level. Stock can take assistance from 100 EMA and around 204-203 levels. Only Move listed below this support will drag cost more towards down.