One stock which has taken a lot of beating is SBI and today's price movement suggests a temporary halt to the down move (at least for 2-3 days). It has created what is called a 'hammer' pattern in Japanese Candlesticks.
Those trading with a two -three day's perspective may buy on break above 1220 and target a price move of Rs 125. Keep stop at 1170
As Nifty too is likely to touch my target of 4325-4350 , i presume SBI will at least get some 'market support'.
As the saying goes ....Make hay while the sun shines !
CA Rajiv D Khatlawala
2 comments:
Good analysis!
Your last post of rounding top for SBI saved me lot of Money!
My hearty Thanks and a lot of respect from my end Sir!
I heared you are writing second book on technical analysis! When is it coming?
Second book ...Still in process ... should take some more time ...
But I reckon it will be worth the wait (have put in a lot of effort on it )
Thanks for your interest
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