state bank of india looks bearish in short term to medium term

9 Tem 2017

head and shoulder pattern formed with a neck line around (281.5 - 280.5) level, which was a strong support also, which got broken later. Now price is retesting the broken level.

Here the pattern tgt - 256, and sl should be just above the right shoulder - 296.5 .

12 Tem 2017

İşlem aktif

cmp - 283.55, in daily time frame, bearish engulfing is formed at trend line resistance, looks bearish.

14 Tem 2017

İşlem elle kapatılmış

Looks like the underlying sentiment is changed from bearish to bullish, close above right shoulder will result in pattern failure