AbhishekHSinghCMT
Short

SBIN - Harmonic Sell below 288 for 280

NSE:SBIN   STATE BK OF INDIA
630 8 18
Going Below 288 & holding below 288 - can dip to 280 support where look for initial halt if holds or going below 280 -it can fall sharp.

We come back to inspect if 280 holds.

Monthly Chart
Move above 335- proposed "d-leg" of the triangle in previous long term analysis -if crossed in future then we expect good upside target. We shall do the projections once 335 & above is breached.

Trade active: 11:04 Hrs 10th April2017

Last Price@288.20

It dipped to 287-286 & bounced above 288 -Likely we will wait for any further action. I am on sidelines means no position.
Trade active: 11:19 Hrs 10th April2017

Last Price@288.20

It is neither going upside & going below 287.50 shall continue down -we need to check what could a small stop loss for this short trade if we take.
Trade active: 13:20 Hrs 10th April2017

Last Price@288.20

Not holding below 287.50 & turned upside. So, we again wait for the bounce to sell

Trade active: 12:39 Hrs 11th April2017

Last Price@292

Bounces from 287.50 -intact from yesterday.

Trade active: 17:08 Hrs 16th April2017

Last Price@291

Going below or sustaining below 290 is a problem - The fall from 296 was very sharp -so Next - we want to see 296 taken out for any buy positions.
Bang On for a small move from 287.50 -which gave a leg upside till 296. Keep moving with the market -let it throw you out helped me gain maximum out of that leg.
Trade closed manually: Closing this post at 291 -Price
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
What is the range for fresh entry ? Something cooking in this area cant understand ?
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@ajayww2, Above 296 -better buying & below 286 -best selling - in between you will be chopped & this is how market sucks your money.
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Tnx...
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AMBRISH RahulThorat
Waiting for bounce to sell. small s.l. today's High.
Reply
@AMBRISH, Yes or below 287.50 SBI will become weak.
Reply
AMBRISH AbhishekHSinghCMT
Reply
thank you sir
Reply
agreed
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