April 25, 2013

SBI Chart analysis

 
 
  • SBI Daily chart shows a bearish engulfing pattern.
  • Weakness is seen at the Golden ratio which increases the significance of the pattern.
  • Any candlestick pattern needs confirmation so in this case a one should also look at the weekly chart. Weakness will extend if price starts to trade below 20 week SMA. A weekly close below this will favor bears of SBI.
  • TATA STEEL CHART ANALYSIS
-->

No comments:

Post a Comment