Pullback trade

Sep 13

SBI Life Insurance Co. Ltd. The stock is in a well-defined uptrend, consistently forming higher highs and higher lows, with support from the 21-day EMA, which is currently at ₹1,834.52. The price has seen a minor pullback of 1.39%, settling around ₹1,849.95, which could be an ideal entry point before a potential bounce. The RSI is at 56.84, indicating neutral momentum, leaving room for upward movement. The stock appears to be trading within an ascending channel, with immediate resistance near ₹1,870. A breakout above this could propel the stock toward the ₹1,900–₹2,000 range. A stop-loss should be placed below ₹1,800 to manage downside risk effectively.