Shravster

SBI Trading Idea || RR - 1:5

Long
NSE:SBIN   STATE BK OF INDIA
A nice channel can be seen on chart. About 4 attempts at breaking out pre-covid. Price broke down below the channel during covid but has made a good return and is likely test the upper resistance. Since it has moved from the lower trendline to the upper trendline in a steep movement, I expect some consolidation/a retest before a final breakout can be seen.

Buy : 261-264
T1 : 291
SL : 254.80

Thanks!


P.S. The rough time stop loss I set on all my trade is about 20-30% of the time the pattern took to form. Be rest assured regardless of the direction my trading ideas proceed in, I'll update the idea to reflect the same.