May 29, 2014
- SBI Daily chart is closing in on 5 Day Low EMA Potential support line for the stock.
- Weekly chart is forming a bearish pattern. If the current negative candle manage to engulf 75% of the previous bullish candle on closing basis then we have a Dark cloud cover pattern.
- For bears next hurdle is the 2475 - 2530 zone which was previous resistance zone. This level may act as support if price tests it.
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.