SBI

SBI has formed a Top triangle pattern on daily charts. The longest leg of this triangle is from 336 to 256= 80 points. So stock can go down to the level of 185 (265-80=165).

         The stock is also trading in a downward channel the lower end of this channel is around 234 where a major support comes. So at 262 stock can be shorted on any rally towards 268-275 with a sl of 282 on closing basis for a first target of 234 and if stock trades below 234 then it will break that channel  too and for that technical target is again comes in the range of 175-180.