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...
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.
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 NSE:SBIN after weak Q3 results stock witnessed short positions building up. With upside resistance of 297 as SL we can go short. 1st Target would be around 275.
SBI is at support levels.
Buy above 265, SL - 260. T1 - 272, T2 - 277, T3- 280.
Sell below 260, SL - 265. T1 - 252, T2 - 242, T3 - 240.
Please note that this is just an educational idea. Please contact your financial advisor or do prior analysis before investing.
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...
Cypher to decipher in SBI, if you aren't harmonic trader try other trade setups in same zone & its completely fine when you make mistakes, while you are trying to learn harmonics :)
Happy Trading !
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...
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...
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 !
We already have SBI symmetrical triangle expecting upside breakup but here BankNifty also providing similar chance.
Though in Both cases RSI shows bearish sign, well let's see where it gives break & then Plan the trade :)
Happy Trading !
Inverse head and shoulders pattern is in formation on the daily chart. Target prices are 280, 288 and above in short term. Buying on dips can be more profitable.
