Updates on Nifty and SBI

Nifty daily chart

Nifty has continued to take support at 200 DMA. Nifty has to close below 200 DMA for continuation of down trend. 

SBI weekly chart

We had initiated bearish hedging strategy in SBI when it was trading around Rs.2140. Now it has reached multiple support level. So  profit was booked around Rs.2050 which is a rally of 90 points.

Nifty medium term trend

Trend	DOWN
Initiation Date	26-02-13
Initiated at	5761
Low since change	5612
Reversal if closes below	5895

Thought for the day

“Face the brutes.” That is a lesson for all life—face the terrible, face it boldly. Like the monkeys, the hardships of life fall back when we cease to flee before them.- Swami Vivekananda