State Bank Of India

There was alot talk about the SBI results today but there is noway there will be bullish on this stock.Okay let take a look at the chart in longer term.State bank is in bearing trend right from may 2011when it pierced my moving average cloud, And after that you will notice it kisses the underneath the cloud which is bearish going forward.

Next support for SBI is 1800-1600 area
Immediate Resistance 2150-2200

Good Luck
Happy Trading

 

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