STATE BANK OF INDIAUpdated SBIN Trading and Investment Opportunity
SBI is the largest PSU name in banking sector. Most of the retail portfolios may have this scrip.
Since its movement in first quarter this year, it has been trading in a channel. Any low below the channel is bought and any excess is sold.
For traders, this is an opportunity to buy at CMP and sell at upper end of channel.
For investors, a break above the channel and continuation would mean SBI reaching that magic four figure.
Any break of lower end of channel would mean a sell signal with support around 600.
As they say, SBI is truly "Banker to every Indian".
This is not a buy/sell recommendation.
This post is only for educational purpose.
Kindly consult your financial advisor before investing.
Keep strict stoploss and money management rules.
Happy Trading!!
Since its movement in first quarter this year, it has been trading in a channel. Any low below the channel is bought and any excess is sold.
For traders, this is an opportunity to buy at CMP and sell at upper end of channel.
For investors, a break above the channel and continuation would mean SBI reaching that magic four figure.
Any break of lower end of channel would mean a sell signal with support around 600.
As they say, SBI is truly "Banker to every Indian".
This is not a buy/sell recommendation.
This post is only for educational purpose.
Kindly consult your financial advisor before investing.
Keep strict stoploss and money management rules.
Happy Trading!!
Trade active
Sell signal.. No long positions till a clear signal on chart. Till then Sell on Rise..
Related publications
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.