Black Friday saleUp to 70% OFF

SBI

SBIN | Monthly Close Holds the KeyRecent bullishness and last week close above 350 levels in SBIN warrants more attention. 325 to 350 region has been a zone of uncertainty with many failed breakouts. It should be noted that ATR during last week was around 18. The stock moved into a historical supply zone with 2ATR move of 35 pts. This calls for caution. The current sharp move upwards was supported by overall market exuberance rather than stock specific trigger. Weekly close should be taken with a grain of salt since the event was towards the end of the week. A comfortable close above 360 levels on Monthly time frame is required before adding to your high conviction Buy List.
NSE:SBIN
by AkhilSuryaFS
2
SBIN - PLAN FOR NEXT WEEKSBIN SEEMS TO BE MAKING A LIMITING TRIANGLE IN B WAVE. THERE ARE 2 POSSIBILITIES HERE. 1. THE B WAVE COULD BE A COUNTERPART OF WAVE A AS DEPICTED IN THE CHART. IN THIS CASE, THE TRIANGLE SHOULD BREAK-OUT ON THE UPSIDE WHICH GIVES A TARGET OF 300 WITH A STOPLOSS OF 283. THIS IS THE MOST PROBABLE SCENARIO AS OF NOW 2. THE B WAVE COULD BE FORMING AS A COUNTERPART OF WAVE A (DOWNMOVE FROM 300 TO 273). IF THIS SCENARIO PLAYS OUT, THE TARGET WOULD BE 271.2 WITH A STOPLOSS OF 292.5. HOWEVER IN THIS CASE, THE DOWNSIDE WILL BE LIMITED TO 267 SINCE THE PREVIOUS UPMOVE SEEMS TO BE AN IMPULSE, HENCE THE C WAVE WHICH WILL BE FORMED AS PART OF THIS DOWNMOVE SHOULD NOT EXCEED 267. IRRESPECTIVE OF WHETHER THE BREAKOUT HAPPENS UPSIDE OR DOWNSIDE, ONCE THE TARGET IS ACHIEVED, THE PRICE WILL COME BACK TO THE BREAK-OUT POINT HENCE GIVING AN OPPORTUNITY TO TRADE IN THE REVERSE DIRECTION.
NSE:SBIN
by anshusahay
SBIN ShortSBIN short pullbach keep watch and trade safe... Disclaimer: The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own financial situation. I am not responsible for any liabilities arising from the result of your market involvement or individual trade activities. Hope this idea will inspire some of you! Don't forget to hit the like/follow button if you feel like this post deserves it
NSE:SBIN
by sakthideva
SBI chart Study...Guys SBIN Test Supply Zone keep watch and take profit... Disclaimer: The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own financial situation. I am not responsible for any liabilities arising from the result of your market involvement or individual trade activities. Hope this idea will inspire some of you! Don't forget to hit the like/follow button if you feel like this post deserves it
NSE:SBINLong
by sakthideva