Thursday, March 19, 2015

SBIN: Potential Bearish Gartley spotted on Daily Charts



I have spotted the Potential Bearish  Gartley pattern ( marked by XABCD points) on the daily chart of SBIN.
At point C , RSI positive divergence is seen ( marked by red up-sloping trendline.)
Two doji's followed by bullish belt hold further confirmed the support area.
This Point C is established near 200 sma  and previous top support.
Considering all this , a technical bounce till 293, 312, 323 can be seen in the near term.
Stop should be placed under point C.

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