SAIL made a bearish breakout , further weakness expecting as long as holds below 75.

STEEL AUTHORITY OF INDIA (SAIL)

• Stock has closed below its major trend line support zone @ 75.
• Previous support is now acting as a major resistance for SAIL, as long as stock holds below 75 further weakness is expecting.
• On down stock stock will find support around 70 as per line analysis.
• Investing in penny stocks.

M&M moving in a range bound zone, sharp movement expecting once it closes and holds below its pattern.

MAHINDRA AND MAHINDRA

• Stock moving in a range bound zone, chart indicates as long as it is moving in between its pattern trend will be mix.
• Once stock closes below 1195 its support, then further price fall can be seen in coming days.
• Stock also finding 200 days moving average support at current levels, M&M will favor bears once it starts trading below 200 DMA. Close Watch.
• National Saving Certificates.

SBI to test strong support between 286-290.

 

STATE BANK OF INDIA (SBI)

• SBI witnessing sharp selling after closing above its major resistance.
• Chart indicates SBI is now heading to test its major support zone between 286-290 (Trend line & 100 DMA).
• Bulls have some hopes to bounce back.
• If stock fails to bounce back and closes and holds below 287 then further price fall can be seen in coming days. Close watch.
• Stock market tips.
• National Stock Exchange (NSE).