• 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

SBI stock moved higher after a protracted running correction last Wednesday; past our medium term target of Rs 1,787.

The near term outlook for the stock is positive as long as it trades above Rs 1,745.

But negative divergence in daily momentum indicators and low volumes are a concern.

The target for the third leg of the move from Rs 1,408 would be Rs 1,825 and then Rs 1,947.

As the first target was achieved on Friday, a move beyond Rs 1,825 is required to signal that the stock is heading towards the Rs 2,000-mark. Short-term traders can buy in dips with a stop at Rs 1,745. Swing traders can buy with a deeper stop at Rs 1,700.

More Stories on : Technical Analysis | Stock Markets

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

Stories in this Section
Growing problems

Copyright © 2007, 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