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SBI could not move past Rs 1,050. It has dipped below the 200-day moving average again . Though, the oscillators in the daily chart are signalling a buy, the weekly charts are not yet conforming.

Short-term supports for the stock would be at Rs 945 and then at Rs 921. Fall below Rs 921 will take the stock to Rs 845. Investors should contemplate fresh purchases only if there is a close beyond Rs 1,079 since both the 50-day moving average and the medium-term downward-sloping trend line are positioned there.

Lokeshwarri S. K.

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