State Bank of India also had a dream run in the gone past week and thus SBI touched a high of Rs 1935. However now stock has receded and is testing its resistance at Rs 1831 and if the stock is not able to sustain above this level than it can fall to the level of Rs 1537-Rs 1300 over the medium term. Thus one should go long only if the stock is able to sustain above the levels of Rs 1831 as thereafter stock can again target Rs 1920-1935-1970 levels. The short term trend for stock is down and thus it can fall to the levels of Rs 1770 or Rs 1670. One must exit all longs in this stock if it falls below 1750 level.
Learn stock Trading in India with examples of Infosys
Infosys is also seeing a consolidation as stock is poised before the resistance of Rs 1711. If the stock is able to keep itself above this level than it can target the levels of Rs 1830 and if stock is not able to sustain above Rs 1698 level than it can fall to the levels of Rs 1500 again. Stock has a negative view from medium term point of view and it has to remain above the level of 1751 to negate this view. Thus if stock is not able to sustain above this level than it can fall to the levels of Rs 1486-Rs 1400 over the medium term.
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