• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Lokeshwarri S.K.

SBI bounced off our support of Rs 1,180 on Monday to hit an intra-week high of Rs 1,263.

Oscillators continue to point upwards though there was a drop in the volumes last week. A five-wave move is complete from the low of Rs 1,094. We can see some sideways move between Rs 1,180 and Rs 1,260 for a few sessions. Position traders can hold with a stop at Rs 1,175.

Fresh buying for short-term trading should be done only on a breakout past Rs 1,270. The price would then head towards Rs 1,287 or Rs 1,303.

More Stories on : Technical Analysis | Stock Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Illusion of control

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line