SBIN seems good "buy on the dip" opportunity. It has been forming the ascending triangle pattern.
-NSE Certified Technical Analyst
-NSE Certified Fundamental Analyst
Disclaimer : This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
SBI monthly chart. flag and pole BO.
2001-2010 - up 2224%
if we go for long term target (pole lenth-8-10 years )
T1-half of pole target-4100
T2- pole lenth target-8200
Its just for study purpose. do ur own analysis b4 investing.
what is Ascending Triangle ?
Ascending Triangle is a bullish pattern that indicates the price moment on the upward side .
I expect a good upward side moment in this channel reasons are as follow
1: its a bullish pattern }
2: no sing of correction in nifty
why not ?
if seen a good correction in nifty then it may fall down...
*always 60-80% technical...
#statebankofindia #SBI Any Breakout from previous resistance of 464 for SBI and a green close about it could indicate good moves upside and may be the time for going for a long entry on this stock. trending on a parallel channel with Momentum and trend indicators indicating bullishness
on short ,medium and long term Channel breach or entry candle low at...
Trade Setup for Date 27-08-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow.
Keep a watch on RSI and MACD levels, and as long as the price sustains above white trend resistance, upside movement is expected. It will also confirm a Double Bottom pattern which can alleviate price to good upside levels.
NIFTY 50 EOD ANALYSIS -20-08-21
O / H / L / C
16382.5 / 16509.55 / 16376.05 / 16450.5
H-L = 133
VIX 14.02 / +8.6%
FII DII: -2178 Crores
Likely open: Negative to flat
CHART BASED CONCLUSIONS
A 200+ point gap-down opening in Nifty shook all the scrips.
Nifty made a significantly lower high and a significantly lower low.
It then moved in a narrow...
NIFTY 50 EOD ANALYSIS -05-08-21
Open / High / Low / Close
16288.95 / 16349.45 / 16210.3 / 16294.6
Trading Range Low to High: 139 points
Likely Max Realistic Opportunity @ 50%: 69.5 points
India VIX: 12.87 / --2.57%
FII DII activities: +12 Crores
CHART BASED CONCLUSIONS
Nifty made yet another gap-up opening and yet another ATH close.
SBIN has been consolidating for past two months, and has formed a Cup and Handle pattern (take a look at the chart). Also it has been following a trendline, shown in the chart, currently trading near this trendline. Testing Fib level 1.618 of two distinct trends of past. Interestingly, the height of cup & handle pattern coincides with one of the Fib level (shown...