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HanishT

SBI Bank

Long
STATE BK OF INDIA (NSE:SBIN)  
HanishT Updated   
NSE:SBIN   STATE BK OF INDIA
Trend Analysis Chart Patterns Technical Indicators sbibank sbin
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trendanalysis chartpattern indicator sbibank sbin
SBI Bank - CMP 338
Looking good to go long at cmp with SL 300 on closing basis.
Possible initial targets - 375/425

Reason:
1. Hidden bullish divergence
2. Retraced more then 61.8% from the top and trading near strong support area.
Comment:
Made high of 370 yesterday, close to the first target of 375.
Comment:
1st target done. It has made a high of 392 today. It needs to close above 385 for further up move towards 425.
Comment:
Made high of 433. Further upside possible once sustains above 428.
Comment:
Has made a high of 442 so far. Continue holding with trailing stop loss at 385 or 400 as per your appetite.
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