SBIN - Hammer at support with low RSI Long

STATE BK OF INDIANSE

Description

⋅ Sep 25, 2020 6:54 PM

Note: This is for educational purpose only.

There seems to be a hammer candlestick pattern formation which is formed at the previous support levels. This hammer is apparently seen to be forming at the lower band of Bollinger band as well. RSI has bounced from oversold zone.

Entry Price: ₹183
SL Price: ₹171
Target: ₹195 - ₹210

Comments

anarchylife

⋅ Sep 29, 2020 4:00 AM

SBI should hit 314-323 in less than 6-9 months.. i.e June 2021.Easiest/safest investment in town

LuckySangom

⋅ Oct 25, 2020 2:13 PM

no chance

ganesrhraja

⋅ Sep 26, 2020 4:48 PM

I second that. But hammer needs to be watched for another day. If it goes up tomorrow or if the candle is green tomorrow, that is a bullish signal

kalyanganguly

⋅ Sep 26, 2020 5:02 PM

@ganesrhraja, 100% agreed. Aggressive traders can buy on the high of the hammer.