TODAYS TRADING CALL....
Short SBI-cash around 1948 levels with SL1970,
for targets of 1885, 1860 levels.
Yesterday, Bearish engulfing pattern was formed
which is a bearish pattern showing that
there is more downside in the stock.
Today if it closes below 1920,
then this pattern will be
confirmed.
SBI is in downward trend
with ultimate target of 1673 &1618.
NIFTY-
Still the NIFTY is in downtrend.
we can see bouts of upmove but that
upmove is not so strong to push NIFTY above
4950 levels. The last trend reversal support of NIFTY lies around 4550-4560 levels from where the NIFTY bounced back in the month of Dec-2011 when it made a
low of 4531.Today Short NIFTY around 4891
levels with SL-4906 for
target of 4837, 4800.
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