Hi All,
Daily chart of NSE:SBIN . See the upper trend line if it holds its a long from there or else see for next support. Use chart for guidance.
Regards
Bibin
Symmetric 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 -...
This stock is currently mildly bullish, though it has remained range bound between 250 and 275 levels. The relative strength vis-a-vis BSE shows that stock has underperformed the index consistently over the past 5 years. The relative strength however confirms an upward trend of this stock and therefore dips may present good buying opportunties. With consolidation...
From the SBI chart you know the direction I expect and its ready for breakout. Why Gap up ?? if you are wondering why, if a gap happens you will miss out the trade which will hit targets & you will be scolding yourself for not taking trade on friday evening.
Anyway, only if you are willing to risk over two days then check with your plan & trade this SBI...
What to do, we got 35 minutes till Nifty opens, I mean the Market opens. So I was little bored, thats why posting on stocks. I'm not in favour of upside breakout in SBI, it may be false breakout just to complete the right shoulder in better way but anything can happen. Won't it be lovely, if SBI breaksdown below the lower trendline ?? Yes, I'm expecting that move...
The price action on weekly chart forming a small uptrending channel that might get a breakout next week. Put it on your watch list as the breakout shall provide good returns.
Also consider the channels formation as educational example. Try building your own as it is easy to form and effective in use.
Trade with care,
Appreciate your support.
Regards
SBI in 15min charts is ranging for few days same as its big brothers Nifty and BankNifty. Atleast SBI was kind enough to show us the triangle pattern and gives us setup for Breakout. Now, if you throw a stone in Markets, it will be forming breakout patterns only, except few. That much ranging going on. All just for Fed meet on Sep 20-21, as usual this meet will...
If any of you thinks that your money gets multiplied in Savings Account / Fixed Deposits with SBI, its Myth. But there is another way to make money with Banks... Obviously, thats what we do... Trading !
Simple Elliot wave with examples of how to trade elliot's effectively, thats what we are going to look at.
Past Setups :
Flag in Wave 1 - Gap Up open we lost the...
It is been observed that ABC Zig Zag correction completed and Wave 1 and Wave 2 structured well that shows higher high. Now I observe that Wave 3 is in progress and it shall go upto 261 and retrace back to Wave 4 and then shall again move higher from 261 levels to make Wave 5. It is wise to buy after retracement or near Wave 4 levels.
As per technical pattern...
Neckline of this head n shoulders pattern is about to get breached and SBI is just hinging on slight support zone around there. We don't know how the markets gonna open today & Nifty also plays a part in opening,so it may be repelled up or can breakdown.We will enter this trade setup only if SBI has valid bearish close below 254 and when the price pierces into the...
New day but our frequent offender is back. Yes , its rising flag so we are expecting breakout to enter the trade in SBIN. Probably nifty will be the decider for SBI's direction today, so lets see
Happy Trading !
Its almost a month SBI is ranging completely within 223 - 235's, probably it may range for another week. If breakout happens expect that will be wild n crazy, in my opinion ( I may be wrong) - I expect there won't be any pullback. But conservative traders can opt to stay out, can enter if any pullback happens in SBI. Moreover Nifty is also caught in some...
It is been 4 weeks that the price action is been consolidating in the range of 223-233. I have observed that there is RSI Bearish divergence and MACD Bearish Cossover at this time but the trend is still up.(As you may see Green MACD's below in indicators) and also the price action is above 20 SMA that also signals uptrend.
Next Week, best time to take...
