State Bank of India (SBIN) Short term

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SBI is looking weak for short term. It has 200 DMA at 2043. and 10,2 bollinger band support line for weekly chart is around 1925. The stock will test its 200DMA in next 3-5 days and will touch 1925 if it breaks 2022 . 2022 is the 50% retracement point from the recent high of 2475 and 1915 is the 38.2% retracement

Short term traders can go short in futures at these levels and can book partial profit at 2043 and full profit around 1950. A stop-loss is advised around 2200.

Intraday players can go for a short around 2140 and with a target of 2097.

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