SBI
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.
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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
Short term Target based on support and resistance intraday.SBI has touched the support on weekly chart and now it has to bounce back to reach 285 RS now for short term intrady this is the target refer my arrow.
There will be small support and resistance but it will touch 261 very soon.
This chart is for 1 hour. Weekly chart thing is just for an update.
SBI, possible reversal ??respecting the pitch fork support lines, (SBI) rallied with the bandwagon of select PSU's today,
look out for +ve divergence in RSI and considering State Bank Of India is an idol among PSU's, expectations rise on technically +ve indicators.
Waiting for second confirmations from Moving Averages until 13EMA is crossed up.
SBI : That Potential Cypher...In SBI, we have perfect-potential cypher formation if all goes as expected we will be getting reversal around the 305's zone to downside. RSI also looks bit oversold but on cypher completion it may go well above current levels.
Aggressive traders can enter Right on touch of 305's zone
Conservative traders look for additional setups in the zone or an reversal before entering !
Moreover Trade only if you have traded harmonics earlier, if No, its not at all a problem, Look for other simple setups in the same zone in SBI. As we usually say, all strategy's are good as long as it's followed with discipline, there is no need of complex ones.
SBI : How we can play this...We already had failed setup on SBI, during RBI day though we caught the direction of breakout right, markets later moved up clearing our stops & eventually went far more than our targets. This happens all the time, but what we feel is SBI doing it for you alone, No it isn't so.
Right now, we are having triangle formation,
i) As 282's zone retest expected, we can expect upside breakout in triangle but being aggressive checking stops : your area.
ii) Once we get Bearish Reversal around our 282's zone, We can have shorts again in SBI
iii) The dotted line downside breakout for target of 266's is least possible in My expectations.
But on the whole if we get a move up to 282's then reversal to 266's will be a filler for our coffers.
Dare to touch SBI on RBI Day ?!We do all kinda stuff..And why on earth we are choosing a riskier scrip SBI on RBI day ? Bcos, we know our Risk, We Define our risk, We know how much we stand to lose in that risk, so that helps our trading plan.
Here there was bearish momentum on hourly SBI and its ranging for sometime, so eventually Bearish breakout expected, I will be taking this trade on Bearish breakout, check with your tradeplan, Determine what is your SL & Target !
Note : This is just how I Plan, Don't do this solely bcos I'm doing it :)
SBI : Can we bank on this bank ?!The 3 prime reasons given in chart forms basic crux for this trade but do remember that symmetrical triangle breaks both side, not that a guarantee it should break upside. Anyway due to the full blown Bull run in SBI & wave counts I'm expecting upside breakout from this triangle.
Let's see what SBI offers us...Happy Sunday !
Symmetric Triangle on SBI - NeutralSymmetric Triangle on SBI and it may break either side. one more formation called falling wedge ( combine with orange and top yellow line but it will break on top ( bullish). Moreover SBIN currently lying on Strong support and statement - MAKE or BREAK
Levels for Long: (Make)
Level 1 - 259
Level 2 - 265
Level 3 - 273
Levels for Short: (Break)
Level 1 - 233
Level 2 - 223