I was wondering who is pushing the Bank Nifty, so I decided to visualize this by this simple comparison. The three major PSU banks are compared with the NIFTY BANK there market cap is as follow 3 (25%) PSU banks out of 12 holds 28.05186836 % of NIFTY BANK VALUE. 9 (75%) Private banks out of 12 holds 71.94813164 % of NIFTY BANK. ...
SBIN SUSTAIN ABV 221 CAN SHOW 232 QUICKLY ABOVE 232 CAN GO STRIAGHT UP TO 250 DOWNSIDE WEAK BELOW 215 FOR UPTO 207 AND 201 LEVELS SIMPLE CHART
IF GAP DOWN : IGNORE IF WEAK MOMENTUM , IF STRONG STEP2; LOOK FOR BREAKOUT CANDLE AND LOOK FOR R1 AND R2 IF GAP UP: FOLLOW STEP 2 . TAKE CALL ON YOUR OWN RISK
State Bank of India broke the support level yesterday. I think SBI this week or next week is gonna test the 250-260 levels.
In the above picture, you can see the area of the overbought area. but the Aroon didn't indicate that not a problem because TI and RSI indicate the overbought this is my idea: I use a different template in that TI indicates scalping and intraday trades. but it has a problem it can show the overbought. but it will not easy to understand so you can use ADX also...
It appears to have completed a pullback of the IHS breakout it gave last week. It could rally till 215 & 245 as long as it does not go below 180
SBI made "W" pattern, expecting up move. It will reach 200 shortly....Lets see... I'm a beginner if anything wrong pls correct me.
As marked accumulation and distribution in the chart, SBIN is in distribution Zone.
for personal eperimental observations