Wednesday, May 22, 2013



SBI one of the major banks in India. Stock had a wonderful rally this month from the low of 2183 till 2472. Today bank is going to announce its results. Technically chart says stock is weak with correction started from last two days and RSI negative divergence,

5 DEMA lying at 2346 & also trend line support. One can go short on the stock either below this level or at CMP depending on risk tolerance of the trader for target of 2290/2228/2179.

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