SBI is at decision point
NSE:SBIN STATE BK OF INDIA
If channel breaks above wait for retest before any buying, if falls along with whole market then can come back to 150 levels or below
Short will be activated if falls and holds below 170 with s/l 178
Though it has given a break out from channel but won't buy as of now because of the way markets have moved up in last 1 week or so without any positives. So when the music stops, SBI will be the first to start crashing.
what the hell is happening here, such a strong up move
Closed well above the trend line, will not jump into buy, wait for retest of 179-180 levels, and if these levels hold , we can look to buy. Failing to hold 179-180, can bring stock back in the channel. Then will look to short below 170
will plan to sell below 177 support line and buy above 200-204 levels only