Somanathrout
Long

sbi closed above 5,10 week moving average

NSE:SBIN   STATE BK OF INDIA
sbin 5 week moving average---188.30
sbin 10 week moving average ---187.20
daily tenkansen 189.8 (most imp)
5 day moving average---193.4
10 day moving average----192.0
20 day moving average----189
50 day moving average----187.4

from tenkansen 189.8 it should go up , in case it goes further down the moving averages will act as support lines. 20 week moving average is at 201. 40 and weekly tenkansen is at 206.10.

in this expiry week price will be floating within this range.

till now sbin has not given a close above median line in a monthly chart since march. so this median line is also to be watch out as 10 times the price has been rejected from this median line since march. in simple words long till the price is above median line (thick red line) and exit below it on closing basis in a daily chart .

happy trading.

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