k314

SBIN short setup

Short
NSE:SBIN   STATE BK OF INDIA
Short SBIN at CMP (281)

Target1:270
Target2: 242

SL: 300
Trade closed: target reached: Target1:270 done!

Trail SL to cost
Comment: It took exactly 1 month to hit target1 :'D
Lets see how much time it would take to hit target2
Idea posted on Aug 11
Comment: There are chances of SBIN making a bullish move above 277

So we will trail our SL to 278 in profit zone as our short call got activated at 281

Comment: Trailing SL to 275.5 in profit zone

Comment: In all likelihood SBIN is in the broadening wedge formation. We will still maintain our trailing SL at 275.5 in profit zone.

Comment: Conservative traders can book profit for remaining position at CMP (253) as we can see that SBI is now taking support at the broadening wedge.

Aggressive traders can trail their SL to 273

Riding on profit from ₹281

Cheers,
tRex
Jurassic Prak

Trade closed manually: Aggressive traders also close all the position at CMP(254) in good profit!