There are lots of news (fund rising) and concerns about its asset quality (NPA) ahead of its QTR result to be scheduled on tomorrow (13/02/2015). SBIN also retraces quite a lot from its intermediate top of around 335 to 275 zone recently.
Looking at the chart, below 275, SBIN (CMP:286) has strong positional support around 268 zone. If tomorrow's result & guidance come really bad and well below expectations, it could also drift to 255 zone in the next few sessions.
On the upside, sustain above 295-300 zone, it could regain 335-341 and 351-365 zone in the short to medium term.
Bad results may be already discounted largely, going by the recent correction. So, buy on dips may be the best strategy going forward, keeping in mind positional support levels of 275/268/255.
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