The above picture is of SBI daily/60 minute and weekly charts. On the weekly (extreme right) we have strong support at 1400 on the rising multi year trend line. On the daily and the hourly charts we are making positive divergence. This can give a very nice pull back trade. As further shorting here won’t yield good returns. The price is already near the bottom channel and far away from the value area (the moving averages). If one is already short then it’s the signal to book profits and wait for higher levels to short again if the technicals permit.
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