January 16, 2012

SBI Chart Analysis


  • SBI has given a bearish daily candle. Price is closer to its 100 Day SMA and Golden ratio So chances of a correction is high from the current levels. Even if price moves up it has to close above the ichimoku cloud for a sustained up move to happen. Weekly chart is also closer to the middle bollinger band. 
  • So in short SBI is giving negative signs close to resistance levels. But there is no breakdown yet. Price is trading well above its 5 Day High EMA so one shall wait for a close below 5 day High Ema to happen.
  • NIFTY WEEKEND UPDATE

2 comments:

  1. Good Morning San Sir,
    Thanks For the SBIN Chart.
    Your Charts are always useful for traders like me. Thanks a Lot.

    ReplyDelete
  2. @Nilesh
    Good Morning
    Thank you for the comment.

    ReplyDelete