May 2, 2011

STATE BANK OF INDIA Support and Resistance lines

UPDATED CHART
  • SBI has broken the support line and is testing the 50 day moving average. Breaking 50 dma and closing the day below it can extend the correction.
  • In the previous post of SBIN We Discussed about the Resistance line of SBI Price gave a correction after hitting that Resistance line.
  • Now price is beck near the support line and closed just below 20 Day moving average. If these two levels hold hen we may see a bounce in SBI.
  • Short term will be negative only if 50 DMA Gets broken.
  • NIFTY WEEKEND UPDATE
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