Stock has been the holding the support created on 24 march 2020
Currently trading near trend line resistance , any break above it, may take stock to 640 -660 levels.
RSI - Bullish Divergence is followed by RSI Resistance at 60 levels + Negative Reversals.
Even tough stock price did not move anywhere in the last 10 years but I has made 3 times 100% moves in between the support and resistance .
It is always good to shortlist the stock based on fundamentals and take an entry with the help of technical analysis.
Will SBI repeat the same now?
Levels mentioned on chart
SBI Monthly Chart
While a typical chartist may call for break-down, the price-to-book value (historical fundamentals) indicate that the stock has multi-year support zone around the price range of 140 to 160. Are we going to see this support zone break-down and melt away in 2020 ? We expect to see long-term impact to emanate from today's policy...
Short TERM Trading Idea
SBI CARD, India's largest lender of credit card listed thier IPO in March, which turned out to be a nightmare for investor's. SBI even started rolling loans for SBI customers so that they can get the IPO at a loan which profits both consumer at LONGER term and gain bank the interest. There was a reason behind the fall of SBI card. Few of...