SBI Continues to Fall towards target

SBI did not open gap down as I expected, but has fallen further today.  

I am short at 3200 with a safe target at 3050, indicated by the horizontal line.

I'll dissolve some position at this level just to be safe and wait for further fall till the indicators tell me that the market is going up again.

Chart Source: www.moneycontrol.com

IDBI between Double Top & Double Bottom

IDBI Bank has lowered today and unable to cross the double top created a couple of days ago.  

It has also managed to remain above the close double bottom, but is expected to fall below that level tomorrow based on other indicators.

The next support is around 145-150 levels.

Chart Source: in.retuers.com

Bajaj Finance Breaks Support Trendline

Bajaj Finance stock on NSE has broken its long-term support trendline instead of breaking its short term upper price channel, as was discussed in yesterday's post .

There is still another level in the horizontal channel to be achieved.

If that is breached, the next stop could be at the lower diagonal trendline. The other indicators are also pointing at further fall in price.

I'm willing to go short tomorrow, if the price falls and remains below the lower horizontal line.

Chart Source: in.reuters.com