NeeteshJain

SBI - 4 Weeks Rectangular Consolidation (Breakout Next Week)

NSE:SBIN   STATE BK OF INDIA
It is been 4 weeks that the price action is been consolidating in the range of 223-233. I have observed that there is RSI Bearish divergence and MACD Bearish Cossover at this time but the trend is still up.(As you may see Green MACD's below in indicators) and also the price action is above 20 SMA that also signals uptrend.

Next Week, best time to take trades:

1. At Breakout
2. Buy If you see change in trend by having higher high or upside breakout of rectangular consolidation
3. Sell if Price Action breaks below 20 SMA and also breaks the rectangular consolidation

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