SBI- Monthly Channel Breakout
Updated
Descending channel, top trendline connects the resistance points (lower highs) and bottom trendline connects the points of support (lower lows).The price broke out of the descending channel twice and rallies 15-20%.
Volume - low during correction phase and spike in today's session.
RSI - indicating momentum and relative strength in stock.
Fibonacci Retracement Levels - 78.6%
15 min chart
Descending channel breakout
Volume - low during correction phase and spike in today's session.
RSI - indicating momentum and relative strength in stock.
Fibonacci Retracement Levels - 78.6%
15 min chart
Descending channel breakout
Note
Monthly ChartChannel breakout !!
Note
Stop Loss below Rs 700 ; Target Rs 900Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
Disclaimer
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