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21 Dec 2008

State bank of India strategy for making profit: 22 Dec - 26 Dec

1. State bank of India is trying to catch the bull trend and in this quest it can target the level of Rs 1,380 in the near-term. The stock will encounter the resistance at the level of Rs 1,425 which is its 200-day moving average.

2. However as a strategy one can short the stock if the stock is not able to move beyond the level of Rs 1,425 as thereafter stock can target the levels of Rs Rs 1,185 and then Rs 1,115. One can say that as per the charts the trend for this share is neutral and can utmost target the level of RS 1500 in the medium term.

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