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Dec

30

INDIA Stock -- SBI Technical Analysis
 

Posted by admin on

December 30, 2012

The article below was written on 30th December’ 2012 around 5:45pm

After a good rally in September’ 2012, ‘State Bank of India’ stock struggled till late November’2012 & then had a good rally from around 2,050 to 2,400 Indian rupees.

Let us see what the chart is saying of SBI

SHORT Term Trend – UP

MEDIUM Term Trend – NEUTRAL with a UPWARD Bias

LONG Term Trend – NEUTRAL with a DOWNWARD Bias

I think a lot depends on how the USA Fiscal cliff news plays out in next one week or two & if there are any new reforms that ‘Government of India’ takes in the immediate future.

 

BULLISH Scenario

There is some strong resistance ahead. If it clears 2,430 & holds, then one can buy on stop. Stop loss & Target levels are reserved for subscribers only.

 

BEARISH Scenario

If one wants to be daring then he/she can consider shorting SBI stock around these levels. I mentioned daring because the USA fiscal cliff news is not out yet. Stop loss & Target levels are reserved for subscribers only.

 

– Kumar Tenkayala

 

UPDATE — Jan 13th’ 2013On Jan 1st, SBI entry to the upside triggered. It reached a high of 2,555 on 10th Jan’ 2013. From 2,430 to 2,555 in just 9 days. 5% returns in 9 days. Whether to be in the stock or to come out, is only reserved for subscribers.

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