1. As a strategy for trading in SBI, one can buy the stock provided the share is able to remain above its crucial support of Rs 1200. Stock can target level of Rs 1350-1425. Technical indicators like oscillators in the daily chart are suggesting a buy in this stock.
2. As a going short strategy one can go short if it falls below 1199 level as thereafter stock can fall to level of Rs 1125. Though continue to signal a buy implying that the medium term trend continues to be up though there can be short-term weakness.
Indian Share Tip: ONGC
3. If ONGC is not able to cross past the level of Rs 920 than a very high chances exist where the stock can fall to the level of Rs 650 in medium-term. However if stock is able to close on weekly basis above the level of 920 than stock can target level of Rs 1,100.
4. As a strategy one can go long in this stock only if stock is able to whiz past 920 on weekly closing basis. As a caution the short term trend for the stock is down as per the available charts and technical indicators. One need to keep these levels under watch Rs 886- Rs 826- Rs 812 again.
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