July 16, 2010

State Bank Of India support and resistance

  • The resistance and support lines for SBI has been working well.
  • For SBI if the stock breaks out and closes above 2505 will give good upward momentum.
  • But as of yesterday the stock got resisted at the top, so may go into correction mode for some day's.
  • The trend line support also looks quite strong. As the stock has respected it so far a breach of the trend line could lead to a large correction.
  • BANK NIFTY ANALYSIS

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