inverted head and shoulders on SBIN: State Bank of IndiaA slanting channel on 2 hr time frame, a break out of which can lead towards 620 area and drop from the channel can bring the price to the lower end of the channel or the buffer support area. Beyond which it can retest 550-555 levels.
but on the larger Daily Time Frame, its a head and shoulders in formation and a breakout of which will come above 620.
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Parallel Channel
FinniftyPrice is moving in the range 19920 - 20040.
Now it has formed a channel. Movement within the mentioned range and channel will give choppy move.
Buy above 20040, stop loss 19980 for the targets 20100, 20160 and 20220.
Sell below 19920, stop loss 19980, targets 19860, 19800 and 19760.
Always do your own research. This analysis is for educational purpose only.
HushNifty - Nifty analysis 25Sep'23Strategy : parallel Channels and Support /Resistance
Support : 19640 19490 19340
Resistance 19810 19760
Entry levels:
Short Entries at the top of the channels on return down
Long Entries at the bottom line of channels on bounce
On break of channels, to follow the trend
Disclaimer : For Educational purposes. Not recommendations
HUL at very good support and looking good for higher targetsHUL is trading in an uptrend channel and currently taking support at the bottom of the channel with some bullish action on daily chart.
The falling markets can make it little dicey and so the conservative stop loss of 100 points can provide a very good cushion and the stock should keep on moving towards the upper line of the channel.
Looking good at CMP 2473/- with SL of 100 points.