State Bank of India Chart Analysis

• First chart shows price near resistance line which may stop bulls from a bigger up move.
• Price is near 5 Day High EMA which has acted as perfect resistance in recent times. Bulls need a daily close above this level for a bigger up move to happen.
• For daily bears need another close below 200 Day SMA for a breakdown. On weekly closing basis bears need to close below 20 Week SMA for a bigger down move.
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