It will not be strange if SBIN can reach the strong support as mentioned if stimulus package is not announced by the government. We can see that it has reached around Rs.145 range multiple times in the past (Aug 2013,Sep 2013,Feb 2014,Feb 2016). The past is going to be repeated if a strong stimulus package is not going to be announced by the government.
Let's see if SBIN is going to reach the strong support !
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SBIN is reaching the support. Anyone who wishes to buy this stock for long tern can make use of this opportunity
For the trendlines you have not used logarithmic scale. your lines are wrong
Ratna_Prakash
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@vishaljgosalia, Yeah, I havent used log scale for drawing the trend channel. But still even with log scale the support almost remains the same with very less distortion of about a % may be.
But the final picture still remains the same with both log and linear scale.
Ratna_Prakash
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@vishaljgosalia, You could see that bank stocks are on downtrend as so SBIN.
vishaljgosalia
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@Ratna_Prakash, Yeah.. can expect a long green candle tomorrow.