AbhishekHSinghCMT

SBIN / Auropharma - Trading with me 21st / 22nd May 2018

AbhishekHSinghCMT Updated   
NSE:SBIN   STATE BK OF INDIA
Exciting week to start as I shall be heading for Traders Carnival 2018. As suggested in status update - I shall be available in markets 21st / 22nd May 2018 - Hope you enjoyed the exciting sessions in last 2 days. Some Beautiful Images of SBIN from the live trading session.

What Next ?
SBIN has important supply levels at 259 & 265 - Holding that it could be a problem for state bank in next few sessions -going below 250 & holding below 250 we shall look for 245 & can expect some bounce again to 255-257 zone holding upside 259-260 zone for downside targets as 245-240-235 & even lower

-----------------------------------------------------------------Day 1- 21st May 2018------------------------------------------

11:00 Hrs - SBIN
Idea to trade long / buy if holds 240-242


11:42 Hrs IST - SBIN
Stuck in Range 240-242 - So buying above 242 or selling below 240 whichever side it moves next


13:35 Hrs - SBIN
Started moving upside from 242 - As suggested we shall take buy poistion


13:56 Hrs - SBIN
Booked Profits at 245 - Double Top at 245-246



------------------------------------------------------------------------Day 2 - 22nd May 2018---------------------------------

13:15 Hrs - SBIN
Above 245 -246 for 252-254 - Extended to 259 - Important Supply Level


14:14 Hrs - SBIN
Crossing 252-254 zone - Awesome


--------------------------------------------------------------------------------------------------------------------------------------
Auropharma selling from 576-578 for 571 - Done & Turning upside from 574 to 580-585 levels
Trade closed manually: 10:06 Hrs 23rd May 2018

Last Price@268.30

Broke above 259-265 supply zone could support for few days & we look for upside target 275 -285

Any longer term targets only if it crosses 300 mark & sustains above else if you get a dip in coming few sessions & you see 259-265 holding it you could take long positions with strict stops below 259 - Do not hold long positions below 259.

Have a nice week ahead!

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle
https://twitter.com/TalksWave

Telegram Handle
(Deleted)
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.