SBI daily chart
SBI has reached an important resistance level at Rs.2350. In daily chart SBI has formed bearish engulfing pattern which is a bearish sign however it needs to close below Rs.2265 for confirmation of short term down trend.
Nifty medium term trend
| Trend | UP |
| Initiation Date | 18-04-13 |
| Initiated at | 5783 |
| High since change | 5845 |
| Reversal if closes above | 5575 |
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