Outlook for SBI for the week (July 22, 2019 – July 26, 2019):

STATE BANK OF INDIA:

 

State Bank of India

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

Stock closed the week on negative note losing -2.09%

Week High: 373.8

Week Low: 355.15

Week Range: 18.65

Resistance 2: 380.30

Resistance 1 :368.15

Support 1: 349.50

Support 2: 343.00

Minor support on the downside lies at 348 levels, Minor resistance on the upside is capped around 366 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 @ 340 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 @ 374

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. Predicts Range for the week as 374 on upside and 348 on downside.

MORE WILL UPDATE SOON!!