June 13, 2011

SBI Analysis

  • SBI Weekly chart shows price taking support at 50% Fib level for the rise from 880 - 3515.
  • So more bad news only if 50% and the low gets broken again.
  • 20 DMA is resisting and stochastic is showing a sell which may take the stock to the recent low. In all likelihood price is in the process of forming a bottom around the recent low. 
  • But one should watch out for a possible break below the recent low then the stock may fall again.
  • NIFTY WEEKEND UPDATE
  • RELIANCE BUY THE STOCHASTIC
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2 comments:

  1. SAMJune 13, 2011 at 8:19 AM

    Hi San ,
    As usual Very Good analysis. Please keep it up like that.
    And by the way are you from Maharashtra

    ReplyDelete
  2. SanJune 13, 2011 at 8:21 AM

    @SAM

    Thanks

    Living in chennai for 20 years. Born in Kerala

    ReplyDelete

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