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Sanjan91

SBI HAS BROKEN A STRONG SUPPLY ZONE. ASCENDING TRIANGLE PATTERN

Long
STATE BK OF INDIA (NSE:SBIN)  
Sanjan91  
NSE:SBIN   STATE BK OF INDIA
Supply and Demand Trend Lines AB=CD sbinanalysis sbin SBI sbinlong sbinforecast psubanks trainglebreakout Ascending Triangle
6
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supplyanddemand trendline abcdpattern sbinanalysis sbin sbi sbinlong sbinforecast psubanks trainglebreakout ascendingtriangle
SBI has broken out of the ascending triangle and also broke a strong supply zone.

The price broke the supply zone and a pullback has been seen. The price took the support of the zone and the trendline successfully.

The target is the height of the ascending triangle above the breakout level. So, it comes out to be around 540.

Stop loss must be placed below 470.

Happy trading :)

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