SBIN - Divergence
Updated
SBIN on the hourly charts is exhibiting a clear divergence.
A similar divergence can be seen on the stock's fall from 171 to 150 and how it retraced from there!
The stock is trading between key Support and Resistance levels of 178 and 171. As I had mentioned on my earlier analysis, 171 is a major support and the stock is expected to bounce back from there.
A clear break above 178 should see the stock retracing back to 190 which is the next major support.
A similar divergence can be seen on the stock's fall from 171 to 150 and how it retraced from there!
The stock is trading between key Support and Resistance levels of 178 and 171. As I had mentioned on my earlier analysis, 171 is a major support and the stock is expected to bounce back from there.
A clear break above 178 should see the stock retracing back to 190 which is the next major support.
Note
If stock closes at 176-177 levels today - watch out for breakout tomorrow!Trade active
Note
Doji Highway on the 15 min chart - Should break on the upside. Holding onTrade active
SL Adjusted to 183Trade closed: target reached
Trade active
R Shorting SBIN at 191; Target 188.5; SL 191.5 will go Long again at 189 for targets of 196
Trade closed: target reached
Closed manually at 189. will go long tomorrow. Watch the updated SBIN idea.
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