If it does not go below yellow trend line then it is very strong. The volumes have been good, i am buying if it takes support at yellow trend line. I will take a positional trade for next week.
Buy above 195 Targets 200 , 205 , 210 Sell below 186 Targets 182 , 178
A long consolidation with triangle pattern is seen in sbin trend line daily chart shows a breakdown , MACD is on bearish crossover , RSI Flat and above 40 , long if breakout happen over trend line with heavy volume . average volume seen increase in recent days in consolidation phase . long above 196-197 on closing basis for short period gains 1 week . long above...
Initially move like choppy and whenever price hold 205 to 215 then it will touch 230 to 245 within a month. Cheers! Buy sell is your choice.
1. Prices are moving in between a resistance level and an inclined trend line 2. A wedge that needs a breakout 3. There was a bearish divergence in the daily chart and today could be a retest 4. for strong down move it needs to break the trend line 5. For a strong up move, it needs to break the resistance line Stay safe, trade with proper risk management.
Stock is forming an inverse Head & Shoulder pattern . Breakout above 200 & sustaining the neckline will lead the prices to the target of 240-245 zone .
Sbi is retracing back from a pull back, support and resistances are drawn, place your targets and stop losses accordingly.
Above Mentioned : Red lines - Support - 190 , 183 Green lines - Resistance - 202 , 208 Buy at support line with candle confirmation and sell at Resistance line. And careful , about Rising wedge.
Sbi life in daily view if break 848 with heavy volume leads to move sudden move toward up side
So clearly you can see by the box visual, don't have musch to say about the moment of the stock. Since the stock is not very old listed it is repeating the it's previous chennel zone.
SBIN tried too cross 200 level many times in past few months and fails, again it is near 200 level , therefore I consider this as important zone. however if it give close above 200 , new level will open for SBI. NEWS : Since news are bit positive for the short term for banks it may surely touch the 200.
Note: This is for educational purpose only. Not a perfect one but seems like a formation of INHS (Inverse Head & Shoulder) chart patter. RSI is above 50 which indicates bullish momentum. There is an increase in buying volume in last 3 sessions.
FOLLOW
Do not buy until closes above 205. For trading sell only below 175 for 150.
SIBN the gap between support and resistance is 100% Wait for the breakout from longterm trend line for to entry long Check the charts for the levels
INTRADAY TRADE IN SBI BUY@171 STOP@168 TARGET-1@174 TARGET-2@176 QTY=(FUT) !!please note trade with caution!! !!manage your risk!! !!trade-wise!! !!please adjust for future rates!!
SBI bank taken support from demand zone. Targets are marked on chart , let see will achieved or not.