raj_rishav

SBIN : Upar jaane ka raasta 2.0

Long
NSE:SBIN   STATE BK OF INDIA
Levels on chart.
Long above 189.8 for 196 with SL at 186.5

Observe Stochastic levels with previous rebounds for confidence
Keep a track on Bank Nifty levels - refer linked idea (1.0) for correlations
Comment: Key BN resistance levels are 22100 ( initiate long) , 22350 (expect profit booking if BN doesn’t breach this, book intraday profits) & 22500 ( target reached but stay in for more upward movements).
Trade active: Buy triggered
Comment: If BN doesn’t breach 22500, will book profits
Trade closed: target reached: Exited at 192
Comment: Bank nifty has a gap to fill so there is a good chance bank nifty can retrace to 22,000 so exit positions now and I will look to re-enter when Bank nifty Is under 22k
Comment: 200 this week - may be even tomorrow ! Buy above 196 with SL at 194

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