Technical updates on SBI and ICICI Bank

SBI

Refer to previous update about SBI http://karthik4bullsnbears.blogspot.in/2013/01/market-updates-for-31012013-sbi-weekly.html and compare with actual performance.

Now SBI is trading at important support at Rs. 2275. If you are holding short then this is the time to book profit and wait for break out or sustainable bounce back.

ICICI Bank

ICICI has breached an important trend line support at Rs.1135. Likely to fall further.

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

We can't, and we should not, compare sufferings. We come together as a family of God, hand in hand. And then together coming and standing upon the promises of God, knowing that no matter who you are, no matter what you're going through, that God knows it, He is with you, He is going to pull you through - Nick Vijucic