1. As stated earlier SBI moved below its support at Rs 1,140 and thus traded in a narrow band for the complete week. As per the charts the trend of the stock is down and stock has to move above the level of Rs 1,213 and Rs 1,277 to show some bullishness in its price movement.
2. SBI is likely to be range bound between Rs 1,140 and Rs 1,220 and if the level of Rs 1140 is conclusively broken than it can target the levels of Rs 995 or Rs 940. As a strategy one can make a short call for the said stock only if it breaks the level of Rs 1139 conclusively on closing basis for consecutive 2 days.
18 Jan 2009
How to make money with SBI?
How to make money with SBI?
2009-01-18T12:06:00+05:30
Analyst
SBI strategy|
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