January 20, 2012

SBI Bullish price action with Decreasing volume

  • SBI Daily chart shows an up move with low volume.
  • Weekly charts are approaching resistance levels. 
  • From 38.2% Fib level towards 1960. If price breakout and close above this level with good volumes then this up move will continue. Any bearish action near this level with high volume will lead to a reversal.
  • One thing that's favoring bulls is the price action, Till now price is not showing any weakness.
  • NIFTY AND INDIA VIX UPDATE

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