September 20, 2011

SBI Chart Analysis

  • Weekly chart shows bullish candlestick and Positive divergence.
  • But Daily chart is still under pressure from Channel and 20 Day Moving average.
  • So if somebody wants to buy a call option of SBI he should see that price closes the day above 20 DAY SMA for bigger gains.
  • Weekly bullishness may not help a day trader. So this thing may move up only if daily technicals turn bullish.
  • If channel and 20 SMA is not broken soon then we may see another sell off.
By at

5 comments:

  1. chetanSeptember 20, 2011 at 9:05 AM

    good morning.

    ReplyDelete
  2. AnonymousSeptember 20, 2011 at 10:35 AM

    WHAT ARE POSSIBLE TARGETS IN SBI, AFTER BREAK OF 20 DAY sma?

    ReplyDelete
  3. SanSeptember 20, 2011 at 11:01 AM

    @Magsa2000
    Right now 20 SMA is at 1953. Daily close above this value can give 2000 and 2040 levels Minimum.

    ReplyDelete
  4. AnonymousSeptember 20, 2011 at 1:07 PM

    Thanks SAN! Do you see Oppurtunity in 2100 SBI call, if you see SBI @ 2100++ levels this series?

    ReplyDelete
  5. SanSeptember 20, 2011 at 1:19 PM

    @Magsa2000
    Today's closing will guide us. So far it looks good for bulls. close above 1953 may help bulls to extend profits.

    ReplyDelete

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