since i have given long swing trade on this its not reversing from any harmonic level but now #sbin at one of strongest harmonic level lets see we might get fall from here or not. one can check my telegram channel snd search #sbin #sbi on my channel and just check where i hv given long on this. short only if you find reversal as #nifty psu has ltl...
SBI Bullish can move towards T1 280 T2 300
Should take 3 to 6 weeks or more
Ichimoku show strong upward trend
ADX is positive too ( sty in the trade till ADX is positive and uptrend )
This is for education purpose only. Pls trade at your own risk
Since Starting of year 2009, SBIN trading in broader range of 350-150. In this zone it has created 3 Major Levels
1) Support Level
2) Middle Level
3) Resistance Level
1) Support Level: Journey started from July 2009 when SBIN took support at its previous Swing High of 150 Zone. After that it became such an important level where it works as Support for another...
I have applied the Elliott Wave Pattern. The third wave is including a contracting triangle, and the fifth wave is including an ending triangle. Hence, the State Bank of India's (SBIN) cycle of the corrective wave started after the fifth wave.
There are two scenarios if it crosses 61.8% , C will be around 205 , and if it does not crossover the retracement level...
SBI formed an evening start after an uptrend and is likely to fall till the next strong resistance.
Initiate short calls.
Sell at 193.5. Target at next resistance, ie, 182. Stop loss at 50 DMA, ie, 197.
NOTE: Supreme court to have a hearing on the interest waiver case. NSE:SBIN
(Breakout+ Consolidation) became a general trend for NSE:SBICARD . In recent terms, the stock has consolidated a lot and has formed a parallel channel taking support at (800) and resistance at (870) . So breakout is possible
Resistance - 870
This analysis is done only for educational & intelligence purposes, invest or trade at your own risk & will.
STATE BANK OF INDIA (SBIN) has breakout of range consolidation, Stock today on August 2020 breakout of Rising Wedge patter as marked on the chart. We can see levels upto 248- 250 in the next 2-4 months. One can Go long with the stoploss below 188 on Weekly closing basis.