Monday, January 23, 2012

Medium Term outlook for State Bank of India (SBI) | Technical Chart | 24-Jan-2012

Below is the technical chart of State Bank of India (SBI) on weekly time frame. We'll try to analyze the medium term outlook for this stock.

SBI share managed to cross kijun-sen line on daily time frame. So, that was the good signal for short term traders to buy. Now, on weekly chart, it is still below kijun-sen line. One must wait to close above the level of 1984 on weekly basis. After that, one can buy for the target of 2377.80. 

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