May 31, 2014

SBI Weekend update

  • SBI Weekly chart shows a Dark cloud cover pattern. Opening of the current week's candle is perfect for the pattern, Closing could have been a little bit lower than the current levels to make the pattern more perfect and effective. 
  • Bearish pattern needs confirmation, The stock too is retesting a previous resistance zone which may act as support. Closing below 2470 levels will add strength for the pattern.
  • Fib levels and 20 Day SMA are immediate support levels. More weakness if price does not hold above them.

1 comment:

  1. For today, Epic Research suggested the traders to BUY TVS MOTOR FUTURE ABOVE 236 TG 237, 238.50, 240 SL 234.70.