Sunday, May 6, 2012

Sell State Bank of India | Technical Chart | 07-May-2012

Below is the technical chart of State Bank of India, using Ichimoku kinko Hyo indicator.

In the last trading session, SBI share price closed below kumo, so was the chikou-span line. Thus, giving clear bearish kumo breakout signal. One should exit from this share and can take short positions here with a stop-loss of 2172. Even on weekly chart, it has closed below kumo.

We may see sharp decline in this share soon.

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