Saturday, September 01, 2012

state bank of india at big support

SBI technical analysis:
as u can see chart below, sbi bank is at strong support i.e. 1816
all hopes for buying comes to an end if it breaks this level. all indicators are bearish & fibonacci price retracement (23.6%) shows there is major hurdle for the stock @ 1918.
buying possible only if stock closes above this level. risky traders can initiate buying from here cmp 1847 for the target 1918. stoploss is 1816.
below 1816, SBI can fall upto 1715