Technical Views on Bank Nifty and SBI

By | January 6, 2011

State Bank Of India

SBI has been falling from past 2 trading sessions with other banks and on city group 400 cores scam and banking sector as a whole is beaten down.

SBI has been trading in the range 2655- 2850 and now is in lower end of the range and we are seeing positive divergence on RSI.

Trade can be taken in SBI looking at trade set up and risk reward is turning up.

Buy above 2703 Tgt 2725,2758 and 2780 SL 2682

Bank Nifty

Bank Nifty has retraced sharply in past 2 trading sessions and in near its support levels and should see a bounce back from this levels

Buy above 11372 Tgt 11478 and 11652 Sl 11265

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