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