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SBI

#SBI trending up &could breakout from resistnce#statebankofindia #SBI Any Breakout from previous resistance of 464 for SBI and a green close about it could indicate good moves upside and may be the time for going for a long entry on this stock. trending on a parallel channel with Momentum and trend indicators indicating bullishness on short ,medium and long term Channel breach or entry candle low at resistance breakout zone r Fib 23 could be swing trade stop loss. if bank nifty index breakout from the all time high then SBI would also do same and trail stop loss if that happens.
NSE:SBINLong
by seekedgetrade
Simple Trade Setup | SBILIFE | 27-08-2021NSE:SBILIFE Trade Setup for Date 27-08-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:SBILIFE
by Trading_hawk
9
Nifty comes under pressure and closes at 16450NIFTY 50 EOD ANALYSIS -20-08-21 IN SUMMARY O / H / L / C 16382.5 / 16509.55 / 16376.05 / 16450.5 H-L = 133 VIX 14.02 / +8.6% FII DII: -2178 Crores Likely open: Negative to flat CHART BASED CONCLUSIONS A 200+ point gap-down opening in Nifty shook all the scrips. Nifty made a significantly lower high and a significantly lower low. It then moved in a narrow range of 100+ points witnessing high volatility and choppy movements. On daily charts, it appears to have been brutally thrown away from the top though it has made a good recovery from the lows. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters HUL 23 BAJAJ FINANCE 15 NESTLE 13 ASIAN PAINTS 11 BRITANNIA 09 TOTAL 71 The Draggers JSW STEEL 27 TATA STEEL 21 RELIANCE 18 ICICI BANK 11 SBI 11 TOTAL 88 Lifter - Draggers = -17 The selling appears to be quite intense and that explains the negative closing for the week. POSITIVES The sleeping giant HUL woke up and stood firm and helped steady Nifty. HDFC ended in the green despite extreme selling pressure. BANK NIFTY managed to end above 35000 make or break level. NEGATIVES Nifty failed to close above 16500 and a major barrier for the bulls has been lost for now. BANK NIFTY fought an intense battle to stay above 35000 and it was hard to for it to even cross 35100 as it was pushed down severely from that area. FIIs have sold heavily. VIX is up almost 9%! TRADING RANGE FOR W/B 23-8-21 The Nifty baseline moves down to 16300-350. The resistances are now from 16500 onwards. BANK NIFTY support base also slides to 34800-35000 and resistance at 35200-35500. INSIGHT / OBSERVATIONS FIIs have sold heavily so some more negativity on the cards. HUL rose sharply and BRITANNIA also did well but ITC did not move much. So there is something in HUL and BRITANNIA that is not applicable to ITC. BANK NIFTY was struggling hard to cross 35100 and the impact was direct on Nifty. The moves remind me of the slow and choppy moves that we had seen during the last year after the COVID triggered the crash. Is this a Buy on Dips market? If one remains stock-specific then yes, it is so - at least for support to resistance-based trades. What do you feel? Thank you, and Happy Money Making! Umesh 20-8-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
1
SBIN Cup and Handle Pattern, Two Fib sequences merging, Long SBIN has been consolidating for past two months, and has formed a Cup and Handle pattern (take a look at the chart). Also it has been following a trendline, shown in the chart, currently trading near this trendline. Testing Fib level 1.618 of two distinct trends of past. Interestingly, the height of cup & handle pattern coincides with one of the Fib level (shown in the chart). Looks good for a long journey. Everything else is self explanatory, look at the chart. All events are merging and I guess SBI is looking for a trigger to reach 550 target. Can the Q1 2021 result prove to be that trigger ? Technically, long trade is sound for target up to 550. Long above 446, Stop Loss 405. Disclaimer: The information provided herein is for educational purpose. Please consult your financial advisor before making any decision. If you like the idea, be generous to like it, and share it with others. Comments and Criticism are welcome.
NSE:SBINLong
by UnknownUnicorn24887800
Nifty builds its first resistance around 16350NIFTY 50 EOD ANALYSIS -05-08-21 IN SUMMARY Open / High / Low / Close 16288.95 / 16349.45 / 16210.3 / 16294.6 Trading Range Low to High: 139 points Likely Max Realistic Opportunity @ 50%: 69.5 points India VIX: 12.87 / --2.57% FII DII activities: +12 Crores CHART BASED CONCLUSIONS Nifty made yet another gap-up opening and yet another ATH close. Another Higher High and Higher Low is a good sign. Interestingly, Nifty has now 2 resistances - 16350 and 16300. Today, expiry pressure may have led it to close below 16300 as well. Tomorrow is RBI policy so till then it is likely to be range bound and then the key point is whether Nifty can close the week above 16300. On daily charts, it has formed a Doji pattern indicating indecisiveness which is understandable in the now not so familiar zone. TOP 3 LOSERS SBI - After declaring a good set of numbers, SBI dragged the indices with a big red candle and it may go down to its 20 DMA which is still a few points away. The good point is that on the decline, the volume is not high as compared to what it was yesterday. INDUSIND BANK - It gas been forming candles of all types and is all over within a range. It would be able to breakout or break down only when this range is broken above 1050 or below 950-60. BAJAJ FINANCE - A scrip that moves in an inconsistent manner, had a big red day as it took resistance from the earlier close and ended the day near the day low. This was preceded by an inverted hammer yesterday so negativity is likely to bring it down to retest 20 DMA which is just a few points away. TOP 3 GAINERS BHARTI AIRTEL - One man’s loss is another man’s gain. This is what sums up its roar today as Kumar Mangalam Birla stepped down as the Chairman of Vodafone Idea. It took the scrip back into the pre-Covid resistance zone and as of now, it has faced the resistance . The volume is good so it may reattempt to cross the line. Wait and watch for now. EICHER MOTORS - It made a strong move after clearing the 20 DMA line and is heading higher. There is something about the scrip that is taking it higher especially when most of the key Auto scrips were suppressed. ITC - The sleeping giant took support from 20 as well as 50 DMA and jumped sharply and is now in the resistance zone yet again with the difference that this time it has good momentum as well as volumes to support so it may well be able to clear the zone in the coming days. POSITIVES ITC, RELIANCE & HDFC BANK performed well today which helped Nifty to stay in the green. HDFC BANK jumped past 1500 level but the expiry trades may have dragged it in the closing minutes. RELIANCE emerged like ITC from the archives but faced its strong resistance and that made the scrip slide back almost 1% from its high of 2154. It along with HDFC BANK now holds the key for the indices. DIIs have matched FIIs selling so the DOJI pattern is explained. NEGATIVES SBI and ICICI BANK underperformed today which dragged Bank Nifty below 36000. FIIs turned net sellers on the 3rd day itself so it appears that they do not seem to be sure about what is in store ahead. HDFC also witnessed some weakness and accompanied by MARUTI and M&M prevented Nifty from closing above 15300-350. TRADING RANGE FOR 0-08-21 As of now, the indices are on the run so I prefer to wait for them to settle down for the week before working on any levels as from hereon till some time, heavyweights could decide which way and how far the indices could be move. INSIGHT / OBSERVATIONS I find it very hard to see that Nifty hit another ATH today and yet several of its key constituents are well below their ATHs and some are struggling to come out of the slumber. I view this as a double-edged sword kind of situation - The good part is - if many heavyweights are still underperforming, Nifty would be able to scale even higher when they start performing. The not-so-good - It means that this rally is driven by a few stocks only and for a market to be stable and upwardly mobile it should have broad market participation. What do you think? Thank you, and Happy Money Making! Umesh 5-8-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT