State Bank of India

State Bank of India - Yesterday moved almost 10% though Results were not good and nothing great has changed in Fundamental of State Bank of India.

Then, why State Bank of India rallied yesterday,  simple reason, market will ignore everything if the trend is as per technical....

News / Results doesn't have any credibility in this market.

Just apply common sense and knowledge and forget everything if you want to make money.

Reliance

Reliance Breakout Chart.  Still the trend is intact.

As such avoid short on Reliance - time being.

Bank Nifty

Positional Chart

Bank Nifty (Positional Chart) -  Initial Trend Buy initiated on 4th March 2014 - close above 10962.80.

Now almost hit the last target 15570 and trying for Breakout now.

Break Out Chart

Again Bank Nifty breakout happened on 7th March and uptrend continued.

On 9th May 2014 Bank Nifty 2nd Breakout confirmed and hit the target of 15570.

Now 15570 act as major level for further trend continuation.

Message as such going short in Bank Nifty not advisable.