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VishwaTTL
Sep 10, 2020 7:14 AM

SBILIFE - Converging price Long

SBI LIFE INSURANCENSE

Description

SBILIFE is clearly in uptrend. Now, that this strong pullback from august seems to be coming to an end.
We see converging price at 50% pullback zone of the prior up trend (Marked in black line).
Also, we can see a lot of neutral candles, indicating weakness of the short term selling trend.
So, we can expect a rally in SBILIFE once the price breaks out of the range.
and this rally can go up to 900 / 920 levels
Comments
datepuru
Greetings ! Do you see this price movement is falling wedge pattern or descending triangle pattern? Latter is a bearish pattern which often leads to fall in price
VishwaTTL
@datepuru, ya, i do realize that. but from the price behavior at this level i expect the price to go up in the near future
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