SBIN: 560-580 Make or Break zone


- The stock has seen a nice recovery over the last couple of days rising from the Budget day low of 499.35 to 567.9 today


- The zone o 560-580 is very important for SBIN
- Black Line of Resistance coincides with Yellow Downtrend Line at around 580 odd levels
- 61.8 Fib retracement level is also at 579.80

Making the current zone all more important.

Bulls need a sustainable price movement above 580 levels for further rally.
If gets resisted then SBIN may resume it's down trend again

On the lower side the Blue Line may be looked at first Line of Support.

My trading strategy
Bear Call Spread strategy.

Exit if SBIN closing above 585 on daily charts.

Take care and Plan your trade accordingly...!!!

- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
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