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20 Apr 2008

SBI:Weekly Indian stock update for the week ending 26 Apr

1. SBI has been range bound through out the last week. One has to wait and watch the stock moving above 1721 to show some real up move strength. If the stock fails to clear the levels of 1721 than one may see the levels for the stock on the down side to 1596 and it can further break down to 1520 levels. Stock on the higher side will face resistance at Rs 1791 and 1864 levels.


2. However SBI is presently in a down trend mode due to indecisiveness on the part of govt for consolidation and thus one must keep watch on the level of 1509 which is a long term support level.
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