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.

Comments

what is the time frame to reach T1?
Reply
Shravster rhjain11
@rhjain11, Roughly 3 weeks.
Reply
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