Relook at SBI and L&T

I had posted earlier about bearish outlook in these counters. Now I am re-looking at them. After the last post both L&T and SBI went down (as predicted) but now these two charts are showing different indications.

SBI after current breakdown has turned very weak and further downside of 2200 can be seen.

While L&T on other hand have taken support at about 1470 level and there is bullish divergence in the OBV. In fact L&T's chart is now a case study for the Acc/Dist and OBV are showing two different view.

1 comment:

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