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Friday, October 22, 2010

SBI Misses Target and Rises Back


SBI was so close to the first target yesterday, but missed and went up again today.  Volume is also good, other indicators are also showing upward possibility, so the trend may continue tomorrow.

I can also notice that the price has tried to reach its long term diagonal line of support as well as its short term horizontal line of support, which merge in a triangle formation near today's close.

With a stop near 3350 levels, I'll wait and see where this goes.

Chart Source: www.moneycontrol.com

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