• After a few months long consolidation SBIN witnessed a triangle pattern breakout, backed by increase in trading volumes.
  • The stock has witnessed a sharp selloff from 300-320 levels and has bottomed out around 170-200 levels. 
  • In addition, the stock have closed above the higher range of Bollinger band.
  • The support on the lower side is pegged at 170 levels with no immediate upside resistance.
  • Any sustainable move above the neckline 210 level could have the strong positive impact in the near term.