January 29, 2013

SBI Charts before RBI Policy


  • SBI Daily chart shows price in a 128 point trading range.
  • Weekly chart shows price ranging below 50% Fib level.
  • Falling below 2423 levels may take SBI towards 50 Day SMA and lower.
  • Breaking above the range may give a 100 plus point move. A bigger move needs a weekly close above 50% Fib level.
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