Business Daily from THE HINDU group of publications
Sunday, Feb 24, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Sunday, Feb 24, 2008 ePaper | Mobile/PDA Version |
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Investment World
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Technical Analysis Markets - Stock Markets 
The upward movement from the recent trough at Rs 2,011 failed to live up to its potential and SBI reversed downward last week. It is now apparent that instead of launching the third part of the move from Rs 1,796 trough, the stock continues to be in a sideways move for the medium-term that is evolving in to a contracting triangle. But as mentioned last week, the stock has retraced more than one-third of the rally recorded from the March 2007 trough. Though the stock can move lower towards its recent trough at Rs 1,800, investors need not fret as long as this low holds. Resistances for the week would be Rs 2,290 and then Rs 2,350. More Stories on : Technical Analysis | Stock Markets
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