SBI Outlook for the Week (Oct 12,2020 – Oct 16,2020)

Technically on the everyday charts EquityPandits Analyst see: Minor assistance on the disadvantage lies at 190 levels, Minor resistance on the benefit is topped around 202 levels.

Weekly High: 198.80.

Weekly Range: 11.75 points.

The present structure shows that STATE BANK OF INDIA share rate moving near trend line breakout. Stock comfortably closed above 3.82% of Fibonacci retracement level. On the daily chart 100 EMA line is acting as resistance for stock. To continue with up move towards 204 level, break above 199 level needed.

Stock is trading below 200 days rapid moving average, suggests long term trend is bearish. EquityPandits Predicts Range for the Weekly as 207 on benefit and 182 on disadvantage.

Weekly Support & & Resistance For SBIN:.

SUPPORT 2.
182

For the Week: (Oct 12,2020– Oct 16,2020).

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 @ 182 and If stock breaches small resistance on the upside and closes above it we might see fresh breakout and stock can head towards Major Resistances Level @ 207.

State Bank Of India Share Price: 198.30 (NSE).

RESISTANCE 2.
207.

SECTOR: BANKS.

The present structure shows that STATE BANK OF INDIA share price moving near pattern line breakout. Stock conveniently closed above 3.82% of Fibonacci retracement level. A white body appeared on the candle light. On the everyday chart 100 EMA line is acting as resistance for stock. To continue with up move towards 204 level, break above 199 level required.

SBI closed the Weekly on favorable note gaining 4.20%.

Weekly Low: 187.05.

.

SUPPORT 1.
190.

RESISTANCE 1.
202.

BSE: 500112