Description
⋅ SBI Bank - CMP 338
Looking good to go long at cmp with SL 300 on closing basis.
Possible initial targets - 375/425
Reason:
1. Hidden bullish divergence
2. Retraced more then 61.8% from the top and trading near strong support area.
Comment
⋅ Made high of 370 yesterday, close to the first target of 375.
Comment
⋅ 1st target done. It has made a high of 392 today. It needs to close above 385 for further up move towards 425.
Comment
⋅ Made high of 433. Further upside possible once sustains above 428.
Comment
⋅ Has made a high of 442 so far. Continue holding with trailing stop loss at 385 or 400 as per your appetite.