SBI LONG
Updated
SBI IS AT MONTHLY SUPPORT AND WHILE BANKNIFTY HAS FALLEN 2.5% , SBI FELL JUST 0.7%
THIS SHOWS THAT THE BUY ORDERS ARE COMING IN AND A NARROW RANGE FOR SBI
A CONTRA TRADE CAN BE TAKEN FOR A TARGET OF 175
STOPLOSS BEING 140
THIS WILL GIVE A GOOD RISK REWARD FOR THE TRADE
BANKNIFTY IS ALSO AT OVERSOLD ZONE SO A SHORT COVERING CAN BE SEEN IN COMING DAYS.
THIS SHOWS THAT THE BUY ORDERS ARE COMING IN AND A NARROW RANGE FOR SBI
A CONTRA TRADE CAN BE TAKEN FOR A TARGET OF 175
STOPLOSS BEING 140
THIS WILL GIVE A GOOD RISK REWARD FOR THE TRADE
BANKNIFTY IS ALSO AT OVERSOLD ZONE SO A SHORT COVERING CAN BE SEEN IN COMING DAYS.
Note
AS WE HAVE SEEN A HUGE SHORT COVERING IN BANKNIFTY SBI IS NOW IN A FIRE MODE AND WILL RETEST THE LEVELS OF 175
THIS IS A GOOD TRADE AND RIDE THE TREND WITH BANKNIFTY
Note
ALREADY SBI HAS MOVED 25% AND ITS TIME TO BOOK PROFITS PARTIALLY RIDE AS LONG THE TREND BENDS.
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