February 8, 2012

SBI Resistance levels

  • SBI pausing near 50 Week SMA. 
  • This is also the Golden ratio level for the fall from 2529 - 1571.
  • So for bulls to continue this up move a week need to close at its high. A bearish weekly candle might result in a pull back.
  • MACD histograms in daily has started to diverge. But price yet to confirm weakness, It need to close below 10 Day EMA for an extended correction to happen.
  • CNX IT NEGATIVE PRICE ACTION

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