State Bank of India has had its Pennant breakout last week.
The pennant breakout is usually considered a continuation pattern although in this case it appears like a reversal pattern.
This short term breakout pattern could be a good LONG opportunity as SBIN reverses from it strong support zone.
Time your entry and enjoy the ride!
HEY GUYS, NOW I AM HERE TO SHOW YOU THAT IN CHARTS WE CAN SEE THAT SBIN HAS BROKEN ITS ASCENDING TRIANGLE PATTERN AND NOW IT HAS BEEN CONFIRMED THAT NOW IT CAN GO UP. SO, WE MAY SEE THE BULLISH MOVES IN SBIN.
HCLTECH can be bought for trading. Had given a Buy call yesterday on Twitter (@SureShotWinner) but could not update here due to some issue. It seems to be working well. The call was BUY HCLTECH AT 1093-95 TARGET 1190 SL BELOW 1040. Can again be bought on dips. Good for short term trading.
GOLD chart as it appears is a classic case of Symmetrical Triangle Breakout Up. It has given a breakout in the month of June 2019 & as per expectations is trading upwards since then. The volume at breakout was not significant but is slowly picking up pace. Though a throwback upto $1300 in short term cannot be ruled as the RSI & Stochastic have entered overbought...
BANK NIFTY has UPPER BREAKOUT placed at 28270 followed by some profit booking at 28360 followed by INTERIM RESISTANCE placed at 28570 followed by FINAL RESISTANCE ZONE around 28700, On the Lower Band, LOWER BREAKOUT is placed at 28060, followed by some profit booking at 28880 followed by INTERIM SUPPORT placed at 28680, followed by FINAL SUPPORT around 27530,...
AXIS BANK: After the trendline breakout in July the stock has given a good downward movement & has clearly taken a support around 61.80% Fibo Retracement. I expect this pullback to continue this week & the stock will try to fill the gap. Thus, a pullback upto 700 – 708 range can be expected. But in my view this might be a Dead Cat Bounce (DCB) & soon we might see...
STOP LOSS 1020
IF DIPS TO 1050 , GOOD PRICE TO BUY
LOOK FOR 1115 ,1145, 1185 AND 1300
SAFER SIDE 998 CAN ALSO BE STOP LOSS ,THOSE WHO WANT TO PLAY LONG TERM.
IT GOT HUGE SUPPORT AROUND THIS AREA.
Disclaimer: All posts/views are for educational purpose only..!!
Kindly contact financial advisor before taking position/decision.