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The cut in SBI got deeper last week and the stock is currently halting at our short-term trend-deciding level of Rs 2,260. This move appears to be a medium-term correction that can drag the stock lower to Rs 2,180 or Rs 2,100. Halt above the second support will take the stock higher to Rs 2,578 or Rs 2,732 in the medium term. Investors can hold the stock with a stop at Rs 2,000.

But the short-term outlook has turned negative for SBI. Short-term traders can initiate fresh shorts once the stock falls below Rs 2,200 with a stop at Rs 2,350.

The downward targets this week are Rs 2,158 and then Rs 2,063.

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