Thursday, June 05, 2008

>SBI Analysis

SBI witnessed continuous selling from 1800 levels
Todays it breached its long term trend line support intra day but smartly recovered back to close above that,Since a support is tested once we are usually in for a rise the immediate resistance for the stock comes at 1400-1410 .

From Elliot wave prospective it looks like a clear 5 down with the last leg is finished or not is debatable A chart is attached to show it graphically.



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