The week for the SBI stock on NSE ended with an indecisive bearish candlestick. The candle looks similar to a bearish spinning top, though not exactly fitting into the description.
There is also the formation of a long term price channel and the SBI stock price on NSE hit the resistance formed by this and slowly retracted all of October 2010.
Other indicators have also turned bearish.
Seems like another bearish week ahead for SBI. Hopefully the market will break its indecisiveness soon and a new trend will emerge. I'll keep you updated on the same.
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