STATE BANK OF INDIA Analysis

• First chart shows the effect of 20 DMA on SBI.
• Price not able to touch 20 DMA Its selling off when ever it comes near this moving average.
• Price continue to make newer lows.
• For Bulls of this expiry they will get relief only if price manages to stay above 2165 and 20 Day Moving average.
• Last chart shows a long term view. The big up trend which ended at 3500 and the beginning of  a long term down trend . This view will only change if stock changes the structure and give higher high and higher low's. Which is unlikely to happen in the near future. In the short term long trades may be attempted on a close above 20 day moving average.
• NIFTY EOD UPDATE