Saturday 23 March 2013

SBI - Head and Shoulder pattern


SBI Chart:



A huge head and shoulder pattern can be seen in SBI share , with neckline at 2040 . Recently there are many false breakout to trap retail investors.  To avoid same conservative shorts can be taken on break of 2020 which is also comfortably below red uptrend line giving support to share since March 2010.  Target for this pattern below 2020 is 1820 and 1550.

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2 comments:

  1. Akhil29 March 2013 at 00:08

    looks like sell-off is overdone...

    ReplyDelete
  2. Monje Moderno10 April 2013 at 00:23

    HI NOW SBIN IS TRADING AT 2000 DO YOU THINK IT WIL STILL GO DOWN AND IF YES WHAT WILL BE NEXT TARGETS? IT WILL BE HELP FULL IF YOU CAN TELL THE RESULT DATE AND WHAT TO EXPECT?

    ReplyDelete

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