SBI Outlook for the Week (Oct 05,2020 – Oct 09,2020)

ASSISTANCE 1.
184.

Weekly Support & & Resistance For SBIN:.

NSE: SBIN

RESISTANCE 1.
192.

SECTOR: BANKS.

RESISTANCE 2.
197.

Technically on the daily charts EquityPandits Analyst see: Minor support on the drawback lies at 184 levels, Minor resistance on the benefit is topped around 192 levels.

SBI closed the Weekly on favorable note getting 4.44%.

State Bank Of India Share Price: 190.30 (NSE).

For the Week: (Oct 05,2020– Oct 09,2020).

Weekly Low: 182.40.

Today structure shows that STATE BANK OF INDIA share price moving near pattern line breakout. Stock easily closed above 2.36% of Fibonacci retracement level. Break above 191 levels which could take prices towards 197 levels or greater levels.

.

SUPPORT 2.
179

The present structure reveals that STATE BANK OF INDIA share cost moving near trend line breakout. Stock conveniently closed above 2.36% of Fibonacci retracement level. Break above 191 levels which might take costs toward 197 levels or higher levels.

Weekly Range: 8.80 points.

If stock breaches minor assistance on the drawback and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 179 and If stock breaches minor resistance on the benefit and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 197.

Weekly High: 191.20.

Stock is trading below 200 days rapid moving average, suggests long term trend is bearish. EquityPandits Predicts Range for the Weekly as 197 on advantage and 179 on downside.