Technical Calls:SBIN,HUL,ICICI Bank and Infosys Limited

SBIN

SBIN closed near its resistance of 1633. Banking stocks have corrected in range of 30-70% in past 2 months on concerns of credit growth. Banking are the front runner of economy and hence they are one to lead the fall or rise in Nifty.

Looking at chart of SBI selling pressure has abated as stock is boucing as soon as it go near 1588-1600 levels giving indication strong hands have started accumulating this and in matter of time where it will show a rally.

Buy above 1637 TGt ...

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Rgds,
Bramesh
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http://www.brameshtechanalysis.com/

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