SBI Outlook for the Week (Dec 28,2020 – Jan 01,2021)


For the Week: (Dec 28,2020 – Jan 01,2021)

SBIN

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

State Bank Of India Share Price : 266.85 (NSE)

SBI closed the Weekly on negative note losing 1.70%

Weekly High: 269.00

Weekly Low: 248.25

Weekly Range: 20.75 points

Weekly Support & Resistance For SBIN:

RESISTANCE 2 283
RESISTANCE 1 274
SUPPORT 1 253
SUPPORT 2 240

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 253 levels, Minor resistance on the upside is capped around 274 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 @ 240 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 @ 283

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 283 on upside and 240 on downside.

The present structure shows that STATE BANK OF INDIA is trading above 61.8% of Fibonacci retracement level. Trend for SBIN is positive and can continue to move higher towards 270 level.