dravya
Long

INTRADAY/SHORT TERM- NOTE DOWN THE PRICE LEVELS

NSE:SBIN   STATE BK OF INDIA
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14
249 8
Hi,
fellow traders,

here I have marked important price points which I suggest you mark and watch the stock.

I will list them down on 4 Grades, Grade 1 being the strongest and Grade 4 being the weakest.

Grade 1 Support - 257.4 , 254,3, 234.9
Grade 2 Support - NA
Grade 3 Support - 250.2, 243.75
Grade 4 Support - 252.9

Grade 1 Resistance - NA
Grade 2 Resistance - 265.4, 271.5
Grade 3 Resistance - 262.8
Grade 4 Resistance - 258.7


So, what to do ?

As of now,

Go long,

CMP : 258.6
Keeping Grade 1 Supports as SL , ( 257.4 , 254.3 )
and Grade 2 Resistance as Targets . ( 265.4 , 271.5 )

Why so ?

we are going long;
we have strong supports at 1 Rupee and 4 Rupees, below us.
we are targeting weaker resistance which is 7 Rupees and 13 Rupees, above us.


Rest, I'll be updating what to do as action unfolds.
You can follow me or star this idea to receive updates.
( I'll try to update real-time)

Thanks.


Trade active: CMP - 262.8

Grade 3 Resistance Reached.
Trade active: CMP - 264 . Next Target - Grade 2 Resistance : Book majority of profits if it reaches 265.4 .
Trade closed: target reached: CMP - 266.1 . Grade 2 Resistance of 265.4 Target done for intraday. Positional can be held for target 271.5

Cheers !!
Trade active: Very close to positional target. CMP - 270.8 . Be ready to book profits .
Trade closed: target reached: 271.5 Reached, positional trade successful !
Cheers :D
Comment: Clear resistance on the blue line. You can use these lines to trade whenever you want, always comes in handy.
Comment: Don't think of holding for long term investment. You'll surely get another cheaper entry within 6 months after exiting now. ( for investors, not traders) .
Should definitely book part profits, I'd say 60% at least. Thanks.
Thanks,
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dravya AMBRISH
@AMBRISH, you're welcome!
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congrats, What is next move in SBIN?
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dravya AMBRISH
@AMBRISH, don't know, not tracking it as of now.
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AMBRISH dravya
@dravya, Thanks, it seems it may touch 281 upper resistance line.
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Thanks,
Reply
dravya AMBRISH
@AMBRISH, You're welcome.
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became too complicated to comprehend by others, refining charts from now on to make you understand better :)
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