STOCK OF THE WEEK (25th - 29th April '11)

State Bank of India


As per our technical aspects SBI is looking very strong for upcoming weeks. Firstly it is forming double bottom formation and also making higher bottom pattern. It has major resistance at level of 2890. After a long consolidation phase now it can test the level of 2890. If it’s able to manage this level then for the short period of time target is 2950/3020. And in down side, it can take support at level of 2795 and fundamentally it is also very good. Its qty result is  lined up in upcoming weeks. So clients can go long for SBI for short period of time.