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Wednesday 4 May 2016

SBIN Daily Chart Gann Line Analysis

Technical Desk Call : 05 May 2016


Strong Buy SBIN 179---175  Stoploss CB 165  Target 189---205  Duration: 20 Days



SBIN daily Gann line analysis chart
















Justification: SBIN on daily chart looking very weak from last seven trading session where it had been cooling off from 200 level till today also it has been closed in lower side at 179.95 on close. we are expecting this counter to get strong support in coming days around 165 on close basis. On Technical parameter if we plot a study called " GANN SPEED LINE " than the stock should found support around 179 to 175 in coming trading session and also we are predicting RSI indicator should also support the chart pattern around 30 value.