Tuesday 21 October 2014

Technical view by Nooresh on Sensex/Stocks/Commodities

Technical view by Nooresh on Sensex/Stocks/Commodities

SBI – Verge of Triangle Breakout. Can it change the trend ?

Posted: 20 Oct 2014 10:25 PM PDT

SBI thumb SBI – Verge of Triangle Breakout. Can it change the trend ?

 

SBI TECHNICAL VIEW

 

  • -> A triangle formation and a breakout on sustaining 2600-2650 band.
  • -> Near term resistance at 2800 would be a first target.
  • -> Most importantly after making a double bottom a cross above 2650 will indicate a major trend change for the stock.
  • -> Also given that it is a heavy weight in Nifty/Bank nifty it will be interesting if it can leadership after a good drop in IT stocks.
  • -> Bank Nifty has also crossed a 3 month high of 16300.

 

We have recommended ICICI Bank also as a favorite in the large cap banking space.

 

Also a lot of other stocks recommended on Friday when Nifty was at 7750 in a detailed Report for Technical Traders Club 

 

For more details about it check this link – http://www.nooreshtech.co.in/2014/09/technical-traders-club-membership-half-yearly-annual.html

SBI – Verge of Triangle Breakout. Can it change the trend ? is a post from: Technical view by Nooresh

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