SBI is trading sideways after a bullish rally that ended in feb 2012. From the chart is is clear that it is trading in narrowing triangular pattern which may breakout or breakdown soon. SBI has managed itself to trade above all its key moving averages like 20, 50, 100 and 200 DMAs which indicate stock is bullish in short tm medium term. Also it is making higher bottoms indicating uptrend but to confirm that stock need to break out from current level.
Traders can buy this stock at CMP (2157 as on 22 june 12) or in decline upto 2100 with stop loss at 2050 and with short term target of 2300 and medium term 2400-2500
