Monday, August 1, 2016

Buy @SBI: Aug 1, tgt - 255

SBI is range bound for the last three weeks between 222 to 235. Any breakout on either side would be fast and furious. Trendline support is at around 220 and 21 Day simple moving average is at 226. Taking into consideration some positive bias, one can keep stop loss at 219 and maintain the long position for a short term target of 242 and medium term target of 255.

It's pure technical view, take your decision based on your own wisdom. niftyji would not be responsible for any outcome of your decision based on this article.