AbhishekHSinghCMT
Long

SBIN - Gets A Crack 289 to 259 - Feeling Better!

NSE:SBIN   STATE BK OF INDIA
Last Update - SBIN - Butterfly in Stomach -Feeling Nervous


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From the Last Update
09:36 Hrs 14th June 2018

Last Price@284.80

As I suggested earlier pattern is not invalidated until 161.8% extension of CD leg which is last PRZ (Potential Reversal Zone) for Butterfly Harmonic Patterns & Weak or Bearish Candle in 285-286 zone is the initial or early clue suggesting that pattern may work.
As precaution do not take sell / short trade if it holds above 285.
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Trading Strategy - What Next?
Plan 1 - Harmonic B- Point @255 can be key support next - if SBIN holds above 255 -we can look for 270-272 & Above 272 on sustained basis for 285-287 -Finally Above 290 for 295-297 as Target
300 - Important resistance level on upside - If you get opportunity to sell close to 300 you may take dip & enjoy but no selling above 300 levels.

Plan 2 - Below 255 on sustained basis should not hold abve 2555 levels in that case we can look for downside target of 238 - 232 levels.
Jun 29
Trade active: 11:55 Hrs 29th June 2018

Last Price@262

Magic of 255 - Let the journey begin! - Happy Weekend.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Ur view on tata motors
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hello brother wats the target on upside? n what shud be closing price ?
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@sharath333, Hi Sharath, I have mentioned in full details as Plan 1 in the update.
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Thanks so much. Please comment on Andhrabank also. In panic here as it broke 31.95 support.
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@angelrishi, Welcome. Unfortunately Travelling at present & Andra Bank is new stock which will take time.
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angelrishi AbhishekHSinghCMT
@AbhishekHSinghCMT, Hi Abhishek, I did the analysis and feel safe. Holding for longer time so I cam exit will no profit no loss at 51 (seems like in 8 months).
But, thanks to be so kind. Side by side, i am sticking to intraday to raise the capital.
You're very kind. Best. Angel
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@angelrishi, Welcome & Cheers!
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259 seems to have broken...next target 238?
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@rashmiCH, I updated no selling if 255 holds - 255.70 was the low in above -- If SBIN holds above 255 - we look for 270-272 as mentioned in Plan 1 & 259 was target 1 which was achieved as per last update.
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