November 9, 2011

SBI Support and Resistance lines

  • SBIN is closer to its Support and resistance lines in weekly chart.
  • For bigger up moves price has to close above 38.2% Fib levels or close the week above the middle Bollinger band.
  • Getting resisted at 20 Week SMA will favor bears. 23.6% Fib level has acted as support on weekly closing basis. So Week closing below 23.6% will be bad for bulls of  SBIN.
  • S&P 500 EOD UPDATE

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