State Bank of India
SBI has done nothing from past 10 trading sessions,Stock has become rangebound with a narrow trading range from 2780-2730.
SBI should explode either on upside or downside before expiry
As per my analysis SBI should go and touch its 50 DMA on upside before expiry as Short covering if it comes can propel the stock higher to 2900-50 levels.
MACD is showing positive divergence
Buy above 2790 Tgt 2820,2860 and 2900
Sell below 2715 Tgt 2632
RIL has broken its 200 DMA and has give close above it for 8 trading seesions.
Now as Nifty is listless RIL is also forming a base around 1050 and facing resistance at declining trendline at 1068-75 levels
Once the Range gets broken at either on downside around 1045 or on upside at 1075 than only trading call shall be taken