Completing a brief pull back for prior fall, SBIN appears to have resumed bear trend. Previous low at 354 is taken down with a strong momentum; advantage bears. With over all market in risk off mood a recovery anytime is less likely, which means we could see further fall from current levels.
Support levels are seen at 348, 342 (Fib level) and 336.
Triangle pattern observed in SBIN. Pattern looks to have confirmed suggesting a bearish outlook. Target depth of triangle is around 25 points. With confirmation of pattern occurring at 347.50, Target of the pattern comes in at 322.70. A retracement towards the pattern before further weakness cannot be ruled out. Notice that 334 could offer a good support.