SBI LONG

SBI IS AT MONTHLY SUPPORT AND WHILE BANKNIFTY HAS FALLEN 2.5% , SBI FELL JUST 0.7%
THIS SHOWS THAT THE BUY ORDERS ARE COMING IN AND A NARROW RANGE FOR SBI
A CONTRA TRADE CAN BE TAKEN FOR A TARGET OF 175
STOPLOSS BEING 140
THIS WILL GIVE A GOOD RISK REWARD FOR THE TRADE
BANKNIFTY IS ALSO AT OVERSOLD ZONE SO A SHORT COVERING CAN BE SEEN IN COMING DAYS.

Comment:

AS WE HAVE SEEN A HUGE SHORT COVERING IN BANKNIFTY
SBI IS NOW IN A FIRE MODE AND WILL RETEST THE LEVELS OF 175
THIS IS A GOOD TRADE AND RIDE THE TREND WITH BANKNIFTY

Comment:

ALREADY SBI HAS MOVED 25% AND ITS TIME TO BOOK PROFITS PARTIALLY
RIDE AS LONG THE TREND BENDS.