SBI Outlook for the Week (Sept 04,2020 – Sept 18,2020)


For the Week: (Sept 04,2020 – Sept 18,2020)

SBIN

BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS

State Bank Of India Share Price : 202.70 (NSE)

SBI closed the Weekly on negative note losing 1.88%

Weekly High: 209.65

Weekly Low: 192.50

Weekly Range: 17.15 points

Weekly Support & Resistance For SBIN:

RESISTANCE 2 218
RESISTANCE 1 210
SUPPORT 1 193
SUPPORT 2 184

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Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 193 levels, Minor resistance on the upside is capped around 210 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 184 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 @ 218

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 218 on upside and 184 on downside.

On the daily chart we can see that , SBIN share price are sustaining above 0.618% of Fibonacci support and manage to close near 100 EMA. A white body appeared on the candle. For the near term To continue with up move, break above prior day high near 204 level is required.