Sunday, June 23, 2013

SBIN

It has broken out of 7 months Head & Shoulders Top pattern 4 weeks ago by closing below neck line at 2057, but SBIN is not able to break trendline resistance, now at 1975. If it close below 1975 than go short on rise with stop loss of 2085 for pattern target of 1645. There is resistance at 12 months rectangle lower channel line at 1837, if broken by closing below it in weekly chart, than target will be 1334. 

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