- SBI was moving up with light volume. After yesterday's news volumes have picked up and price too moved up in favor of bulls.
- Closing above 200 SMA will help bulls to extend this up move.
- Month chart shows price trying to stay above 5 Month High EMA. Price has also violated a declining resistance line in monthly chart. Month closing above 5 Month High EMA will help the stock to stay bullish in the medium term.
- For bears weakness can only be expected near 200 SMA.
- Will update today's intraday chart later in this post
TODAY'S CHART
- SBI is showing weakness near 200 SMA. Bears need follow up selling to confirm.
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