The stock is showing weakness owing to a bearish Head & Shoulders pattern. SBIN gapped down on Tuesday and now witnessing selling instead of broader markets being positive. The stock if breaks down below 1680, the pattern will break down and we may see decline of around Rs 150-200 in price. The move will be negated in case SBIN settles above Rs 1820. The stock has a big gap open at Rs 1325-1445 and 200DEMA at Rs 1505 will be important levels in downside as support. Drought situation is not helping agriculture in India and any more debt-related sops to farmers can result in bad news for PSU banks.
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