iamastudent

SBIN - Long only if takes support between 355-356 range

Long
NSE:SBIN   STATE BK OF INDIA
Most of the indicators are showing selling pressure except the moving average. As per daily chart, it looks like a falling wage. Expecting a support and bounce from the 355 price range as the last gap up area will act like a support. According to my analysis Stop loss limit of 349 should be enough, and it should run a next leg up and form a double top pattern with target range of 426.
Feel free to comment about your thoughts :)

Please DYOR before applying my analysis these are just for education and learning purpose only.



Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.