OPEN CHART FOR ANALYSIS
Daily charts of SBI life shows that the stock has been moving in a specifies price range making continuous Higher Highs and Higher lows.
A few days back it gave a good breakout with volumes. And it showed a pull-back now and took support of the range line.
Also, if we look at the 1-minute chart of Sbi LIfe ins. (not able to upload...
. MATRICUSDT is IN down trend, the beginning of an uptrend is expected from here.
. The price is trading BELOW 21- MA as well as 50 MA, NEED to breakout both MA's as well as downtrend to be bullish.
TP1= @ 1.75
TP2= @ 2.33
TP3= @ 2.69
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HERE IS THE CHART OF KOTAK MAHINDRA BANK 1 DAY CHART I FOUND OF TRIANGLE PATTERN BREAKOUT.
AND WHEN 20 AND 200 EXPONENTIAL MOVING AVERAGE IS PARALLEL TO EACH OTHER AND WHEN THEY GOING ANOTHER DIRECTION SO THE TRADE GIVES RIDING.
IN THIS I ALSO THINK THAT IT WILL BREAK UP SIDE.
MY TARGET FOR THIS IS = 1831, 1935.
I THINK HDFCBANK WILL GO UP FROM HERE AS THE FINANCIAL SECTOR WILL BULLISH FROM NEXT WEEK OR HDFCBANK HAS GIVEN A TRENDLINE BREAKOUT ON THE 1 DAY CHART.
AND WITH THE SUPPORT OF 20 EXPONENTIAL MOVING AVERAGE HAS GONE TO THE UPDISE.
SO MY TARGET IS = 1524.63 , 1635.00 , 1741.56
Stock has confirmed it's inverse head and shoulders breakout on weekly charts over the levels of previous close, it looks ready for a big upside move from here as tyre stocks are still in traction. A long position is recommended with the mentioned stop-loss for the mentioned targets.
Stock has cleared the breakout levels in today's session and gave a comfortable close above those levels, which confirms the breakout, can definitely be bought here with the respective stop-loss for an expected profitable trade.
SBILIFE is in trading Range as you can see in hourly time frame .
SBILIFE already did several attempts to break the trading range formation but it failed .
Now the real question is why i am bullish on this still it failed to hold above trading range .
Because its above 200 SMA in daily time frame and if look closely you can see the bullish flag pattern in Daily...