Market updates for 31/01/2013

SBI Weekly chart

SBI is consolidating around trend line resistance it has  formed a number of 'doji' , stochastics is over bought which indicates exhaustion of uptrend and  finally trend indicators in daily chart has indicated down trend. Based on above observations we are bearish in SBI from medium  term perspective.

Nifty medium term trend

 

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

 

Thought for the day

 

When we are focusing on fear , worry or hate it is not possible to experience happiness , enthusiasm or love.