SBI Chart Analysis

• SBI was not able to stay above 50 Day Moving average, Was stopped exactly at the cloud too. With overbought stochastic if sustains below 1886 will attract more selling.
• S&P 500 EOD ANALYSIS
  

SBI Support and Resistance lines

• Price in daily chart is moving up towards the resistance line.
• In the recent past this line has acted as strong resistance.
• Now price is also approaching 50 Day SMA. 
• So a breakout here may extend the current up move. Look for a daily close above 50 SMA for confirming real buying strength. 
• Getting resisted here will result in another fall.
• Resistance line is around 1960
• 50 SMA @ 1966 

SBI Channel and Support level

• SBI is testing important support level.
• Support level is between 1868 - 1905.
• There are no reversal signs yet so we have to wait and see if we are going to see a reversal candle here.
• The channel of SBI shows some more down side for the stock before it can hit the bottom support line of the channel.
• If it hits the channel bottom we can definitely see a reversal trade from there. If it is going to turn before hitting the support line then we have to look for daily reversal candles to initiate trade.
• NIFTY WEEKEND UPDATE
  
• BANK NIFTY WEEKEND UPDATE
  

SBI Chart Analysis

• SBI Continues to be in a strong down trend.
• Range breakdown will cause more pain for the bears of SBI.
• Stock is oversold but the bounce is not happening.
• Price is trending down below 10 Day moving average. 
• Closing above 10 Day SMA may show hints of a turnaround till then its better to stay short.

SBI Analysis

• Conclusion : If price continue to Close below 5 Day Low Ema it is safe to hold shorts. But indicators are showing oversold readings, in that case If price close above 5 Day High Ema a long trade will be profitable.
• NIFTY WEEKEND UPDATE
  
• S&P 500 WAITING FOR THE DEATH CROSS