March 15, 2016
SBI (NSE Cash)
184 - 183
14 - 21 sessions
Source: Falcon (Chart Time: 09:30 IST)
After the sharp correction from
150, the stock rebounded piercingly in the recent past. The stock is
moving in sideways direction from last few sessions and the consolidation phase has resulted into formation of
a ‘Bullish Flag’ pattern in daily chart. Currently, the stock is taking support of its short term moving average
(5EMA) and in verge of picking momentum. The ‘RSI - smoothened’ oscillator also moving higher and thus
indicating strength in the counter. Considering the positive placement of price and technical indicators, we are
expecting healthy up move in the counter.
Thus, traders are advised to buy the stock at current levels and on
183 for a target of
200. The stop loss for the trade set-up can be kept at
March 15, 2016
Last 8 recommendations
Recom. Buying/Selling Range
1154 - 1164
477 - 480
738 - 742
925 - 930
182 - 180
108 - 107
863 - 867
1746 - 1735
Booked at 1812
Source: Angel research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website:
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