learningcurve100

Weekly trend analysis of SBI

Long
BSE:SBIN   STATE BANK OF INDIA
342 views
1
This is a simple trend analysis showing strong support and resistance levels on a Weekly chart of SBI . The green rectangle shows a strong support region tested for over 10 years. The price has entered the green region along with an oversold RSI , which indicates that one should start buying at this level. It would be better to start making positions as the price goes deeper in the green zone or a risk-averse person can start making a position after a breakout.
The horizontal line at 251 shows a strong resistance/support tested at various intervals. That could be the first point of profit-booking. Use price and volume data to consider whether to hold (in case the share breaks out with strong volume ) or book the profit (if the share shows signs of reversal). Profit-booking at this point will give a 30% return.
The red region shows the resistance region and is the profit booking point for the trade, in case the price breaks the 250-level. Profit-booking in this region will give around 70-85% return.

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Trade closed: target reached

Comments

Thank You !!it help to understand the behavior of security on long term
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@amolnraje, You're Welcome
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