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State Bank of India was unable to gather the momentum to move past Rs 1,245 and slid lower towards Rs 1,000 instead.

The stock can slide once more to Rs 990.

But short term traders should watch out for a rebound from the support around Rs 1,000.

Resistances for the week would be at Rs 1,246 and then Rs 1,375. Fresh investment purchases are recommended only on a close above Rs 1,375.

The medium term range for the stock is between Rs 1,000 and Rs 1,600.

Since it is close to the lower boundary of this range, swing traders can by with a stop at Rs 950 with the target of Rs 1,400 or Rs 1,600.

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