December 26, 2013

SBI Chart analysis

  • SBI daily chart trying to form a base around the 50 Day SMA as shown in first chart. Crucial support here is 1712 level. Close below 1712 will be bearish. For bulls need a close above 20 Day SM to gain strength.
  • Price yet to recover from the big bearish engulfing pattern in weekly chart. For this particular pattern need to break below 20 Week SMA for bigger falls to happen.

No comments:

Post a Comment