Friday, November 11, 2011

State Bank of India technical chart | 11-Nov-2011

State Bank of India technical chart
 Here is a technical chart of State Bank of India (SBI) listed on Indian stock exchange. I've used Ichimoku Kinko Hyo indicator.









State Bank of India technical chart
State Bank of India technical chart




On 4-Aug-2011, SBI price CLOSED below kumo and that was the fisrt signal of its weakness. From there it started its downward journey - from 2257 to current 1862. Even now, it is trading below kumo and one has to wait for its closing above kumo for uptrend. It will start its uptrend if it CLOSES above 2170. Till then, avoid this stock.


No comments:

Post a Comment

Doda-Donchian ver 2.0 Released

 Based on the feedback and some pending features, I'm releasing Doda-Donchian version 2.0 today. Showing sample chart of EURUSD on ti...