SBIN

SBIN closed near its resistance of 1633. Banking stocks have corrected in range of 30-70% in past 2 months on concerns of credit growth. Banking are the front runner of economy and hence they are one to lead the fall or rise in Nifty.
Looking at chart of SBI selling pressure has abated as stock is boucing as soon as it go near 1588-1600 levels giving indication strong hands have started accumulating this and in matter of time where it will show a rally.

Buy above 1637 TGt 1649,1669,1692 and 1714.
Above 1714-15  …

There is always bull market somewhere even in Down trending market and Bearish market we are trading into.
Hero Moto Corp
Hero Motor Corp is the Real hero in the Screen of Red. Nifty is down by 4% in past 2 days But HERO is up in green and making a fresh life time high.
Stock is trading in the rising channel but today candlestick formation is Called INSIDE DAY and if it breaks 2186 it can set into correction mode.
Indicators are making negative divergence but we need price confirmation.

Sell below 2186 Tgt …