SBI has retraced from the lower end of the long term bullish channel when it touched 235 on the day of July expiry. And chance to break into that long term bull channel could be to continue to be in the mid term bull channel. A close below 225 would indicate the break of mid term bull channel and continuation of the short term bear channel.
It is very important today and also on Monday for SBI to close above 225 in any hope for a positive mid-long term future.
I would rather go short with closing stoploss of 225 in the next few trading session. Sell on rise up to 235 with a weekly closing stoploss of 240 for a target of 200
It is very important today and also on Monday for SBI to close above 225 in any hope for a positive mid-long term future.
I would rather go short with closing stoploss of 225 in the next few trading session. Sell on rise up to 235 with a weekly closing stoploss of 240 for a target of 200