indiamarketoutlook

State Bank of India channel trade potential

NSE:SBIN   STATE BK OF INDIA
SBIN
CMP 300.85

The stock has been trading in a channel for quite some time now..

Potential trade opportunity

Channel trade potential
Sell at cmp
Target 295/ 288
SL If closing above 303



Break out trade potential on close above 303

Target 310/318
SL 296.5

Take care and safe trading...!!!
Trade closed manually:


SBIN CMP 296

Channel trade has given us more than 1.6% intraday in SBI with mimimal risk. Consider booking profits as per risk appetite.

Happy trading...!!!
Comment:

Watch out... Breaking 50 hour EMA @ 295.30... May fall further
Comment:

Below 50 hr EMA SBIN Moves swiftly to 293.35
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