Nifty made its recent high on 12th june, but our major nifty player the sbi,made its high on 2nd june,,and has been correcting rather sharply,,on the otherside nifty corrected heavily in the last week,but sbi have made its low on 16th june and infact has ended the week on a positive note.
But ,has the last few days rise in sbi ,got enough strenth ??..well looking at daily charts, i have a
feeling that it need to close above 1775 and 1810,tobe able to not only regain its own strenth,but also to support the indices in gaining lost grounds.on the other side a move and especially
a close below 1660 around,(with a failure to go above 1775-1810),will certainly put a lot of pressure on indices and will compell them to drag back ,below last weeks lows.
The sensex chart with downside tgt was presented last week, and 1st tgt was duly reached.
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