Thursday, March 17, 2016

SBI Erazes Day's Gain - Are We Still Good to Reach Target?

What a dramatic last hour of trade it was? Everything that was achieved through the day's trade was just washed away in the final leg. The swing that SBI was enjoying for the last two days was blown away.

Though SBI closed flat compared to last trading session, it is with a heavy heart that I have to announce that the dream of seeing today's close near 190 has vanished. If not for the last hour of trade, SBI would have closed near 190.

Why I am so insistent on 190 - you may well ask. Because a close near 190 would have ensured that the swing strengthens. This in turn would have signaled that the target gets extended to 200+. I had already mentioned it in my last post.

Well all is not lost. But now we need to be careful though. Exit your trade at 189.4 if tomorrow's opening is not strong. But in case you are lucky to get a gap up opening near 190 then wait for the extended target of 200 to book profit