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18 May 2008

Best Indian Banking Stock State Bank of India Update for week ending 23 May

1. SBI is presently in a down trend and is likely to move in a broad range which runs in a band between 1601-1899.


2. One has to see the support at 1901 which is when breached with volume will indicate an uptrend in stock and also on lower side one can short if 1599 level is decisively broken as than the stock touch upto 1401 levels.

3. Since Nifty is in uptrend we may see stock touching 1731-1761 levels but overall stock is bearish in present scenario. Enter in stok with strict stop loss.

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