SBIN

SBIN has broken multiple supports lying around the level of 1600, you can view that clearly in the chart below. SBIN has closed at 1578.25, with a 1.40 % big red bar. The close itself suggests possibility of more downward pain in the stock. One may short this stock for the targets

of 1550, 1515 & 1490. A strict closing basis Stop Loss can be maintained at 1605. Please refer the chart below for better understanding.