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Buy SBI | Technical Chart | 14-June-2012

Below is the technical chart of State Bank of India, SBI, listed on Indian stock exchange, using ichimoku kinko hyo indicator.

Buy SBI | Technical Chart
Buy SBI | Technical Chart

In the last trading session, price of SBI managed to close above kumo, which was its main resistance. Chikou-Span (CS) line has already closed above kumo. That clearly gave bullish breakout. But it with a stop loss of 2096

On the weekly chart, however, it will face resistance at Rs.2267. The major support is @Rs.2051.

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