SBI at significant resistance levels!

State Bank of India (SBI) is facing severe resistance at 2150. For the past three trading sessions the stock has taken support at 2080 levels. If the stock fails to clear 2150 and closes below 2070 then the stock can fall to 2020 levels. This will also violate the recent uptrend (Line A) and the scrip may fall to newer 52 week lows as the overal medium term trend is down as visible from the downward sloping channel. 1880 and 1680 are major supports in a big correction in the stock.

VIX at historical lows!

VIX for the Indian mkts are at historical lows. In fact the current reading is lower than the reading for Jan 2008 all time highs. This shows a lot of complacency in the markets and is a cause for concern for the bulls.