raj_rishav

SBIN - Divergence

Long
NSE:SBIN   STATE BK OF INDIA
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.
Comment: If stock closes at 176-177 levels today - watch out for breakout tomorrow!
Trade active
Comment: Doji Highway on the 15 min chart - Should break on the upside. Holding on
Trade active: SL Adjusted to 183
Trade 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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