InsiderB

SBI : How we can play this...

NSE:SBIN   STATE BK OF INDIA
We already had failed setup on SBI , during RBI day though we caught the direction of breakout right, markets later moved up clearing our stops & eventually went far more than our targets. This happens all the time, but what we feel is SBI doing it for you alone, No it isn't so.

Right now, we are having triangle formation,

i) As 282's zone retest expected, we can expect upside breakout in triangle but being aggressive checking stops : your area.

ii) Once we get Bearish Reversal around our 282's zone, We can have shorts again in SBI

iii) The dotted line downside breakout for target of 266's is least possible in My expectations.

But on the whole if we get a move up to 282's then reversal to 266's will be a filler for our coffers.
Comment: Solid winner in SBI ? Let's wait... Anyway Good Breakout...
Comment: Targets done, Now aggressive trail on stops.
Comment: Look for channel breaks on lower timeframe & after confirmation on your end, take shorts if its in your plan.

I didn't check lower tf, just updating here for you :)