The Hindu Business Line : SBI

Despite the downward blip on Friday, we continue with the view that SBI is charting the third leg of the up-move from the July trough that has the medium-term targets of Rs 1,690 or Rs 1,930.

This view will be negated on a close below Rs 1,300.

SBI can record a minor decline to Rs 1,450 or Rs 1,400 next week.

Short-term traders can use such declines to buy the stock with a stop at Rs 1,390.

A halt above the first target would be a sign of strength and imply an impending move higher to Rs 1,604 or Rs 1,640 in the near-term.

— Lokeshwarri S. K.

More Stories on : Technical Analysis | Stock Markets

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

Stories in this Section
Strike an investment bond!

Making sense of the rupee movement

Update

Automobiles: Working on a better product mix

When a buyback isn’t investor friendly

Capital goods: New moves on procurement

ICICI Pru S.M.A.R.T Fund — Complex structure

Tata Equity P/E Fund: Invest

Sundaram BNP Paribas Select Midcap Fund: Hold

Steel: Creating backward linkages

Bank of Baroda: Hold

SAIL: Buy

Everest Kanto Cylinders: Buy

PSL: Buy

Query Corner: What the charts say

Index Outlook

Tech School: Descending triangles

Reliance

SBI

Tata Steel

Infosys

Unitech

Reliance Infra

FMCGs: Price hikes, forward purchases save the day

Infrastructure: The escalation clauses start kicking in

Thrust on basics — and beyond

Dreaming big but…

Mixed reactions to master plan

Banks: Higher lending rates hold the key

A de-merger that won’t benefit small shareholders

Of investors and auto drivers

Beta exposure: Is direct investment better than index funds?

Baskets of X

Bull's Eye

Nifty future may drift lower

Here’s a way to lock-in minimum gains on your investments

Meet the Manager

‘Only 3.5 crore are covered by health insurance’

High interest rates will not last more than 6-9 months

Deductions on medical treatment

Charting and cricket