Thursday, January 19, 2012

State Bank of India (SBI) to face resistance now | Technical Chart | 20-Jan-2012

Let us discuss the technical chart of State Bank of India (SBI), using Ichimoku Kinko Hyo indicator.









Although the stock price of State Bank of India (SBI) is trading above kumo, but the chikou-span line is still trading below kumo. So, this is not the confirmation of its bull run. It needs to cross above kumo to give bullish breakout. On the other side, future kumo line is flat.

Whenever kumo is flat, it will attract price.

So, in coming days, you may see SBI price may touch 1795. So, trade accordingly.

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