OmiFX8
Long

SBI : Buy above 313.50

NSE:SBIN   STATE BK OF INDIA
SBI closed on the defensive today, but above the upper edge of the falling wedge pattern that was breached to the higher side yesterday.

Long-tailed attached to today’s candle indicates weak buyers have likely been crowded out and the stock could fly high in the next few days, as suggested by the falling wedge breakout.

Hence, it is good to buy above Tuesday’s high of $313.50 for target of $320. A close above that level would only bolster the bullish setup and allow re-test of recent highs.

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