May 2009


Hello ,

Yesterday SBI has broken off the nice pennant formation and is now headed towards it target of 2000+ . See the attached image.

As per pennant formation we have an possible upside of  around 400 Rs from 1700 (where the breakout happened yesterday).  I would suggest longs in SBI with 1750 as stoploss . I would like to make the target at 2000 instead of 2100 (as per pennant) just to have a conservative view on this…
SBI Pennant.JPG

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