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SBI

SBI- Possible Short Trade Setup in ProgressionSBI seem to be forming a Head and Shoulder pattern in the shorter time frame chart. The pattern to be completed needs the price to test the neck line placed near 420-418 levels and break below. The immediate targets for the set up, if it realizes can be 406/393. The stop loss needs to be placed above 436, which is slightly above the most recent high made intraday (June 11). Possible trades from the set up 1. Aggressive traders may consider shorting the stock/Futures on any up move towards 433-435 levels, keeping a stop loss at 436.2. 2. Those willing to risk about 7000 to 8000 and wait for approximately 40 days may consider buying the 420 PE July series, currently priced at 15.75 (closing price as on June 11). If the trade materialises the option should be worth around 24 near final target . Square off the option at market if the price closes above the stop loss mentioned in daily chart. 3. Those who wish to carry overnight position and look to hedge can short the July Futures intraday when the spot price is near 433-435 range and hold the position as long as the spot price do not breach the stop loss mentioned. If the trade is in our favor, towards closing buy 430 CE July series and convert the intraday Futures position to overnight. This can offer some hedge and also will allow you to carry the trade overnight with a small margin. Note: I am not a SEBI registered analyst The information given is only for educational purposes.
NSE:SBINShort
by binuppaul
4
SBI LIFE INSURANCE 📈📈Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade Check these Upcoming ideas - STILL ACTIVE Check these successful trades & approach on Britannia , Mothersonsumi , DLF , Biocon , Daawat , Infosys , HBL power , HDFC life , Hind ZINC given below If you like my analysis do like & follow me as a token of appreciation. If you have any queries on any stock let me know. Leave a comment that is helpful or encouraging. Let's master the markets together
NSE:SBILIFELong
by thestockengineer
Double Top Pattern on SBIDouble Top, a bearish reversal chart pattern explained What is Double Top Pattern ? NSE:SBIN Double top is a trend reversal chart pattern formed after good bullish price move (a continuous price move for a good duration) where the upward price movement looses its steam (first top) and it retraces a bit (to neck line or mid point). Then again it moves in direction of original trend and reaches the first top level there by forming second top. It again cannot move above first top and start moving to neckline. Once the neck line is broken its fall in price is steep. Understanding Double top in details Double top is formed when the stock moves up for many days and the movement is steep towards the end. And then it falls from there by about 10-15 %. After this it again tries to move up and reaches level of previous high but cannot cross its previous high. After this it again starts falling to a level of neckline. Once it retraces below neckline a downtrend starts. A image representing Double Top Chart Pattern formation Please note that in actual practice, the two top may not be exactly at same level. Generally, second top is a slightly lower level but 1-2 % higher then first level is also acceptable. A significant higher second top may be dealt with lot of suspicion as it may indicate continuation of uptrend. Volume in double Top has a lot of significance as it can help to confirm formation of the pattern. Volume during first top should generally be much higher than volume during second top formation and volume during midpoint formation should be much lower than volume during neckline break out. Please avoid aggressive positioning when volume is not supporting the move. For aggressive traders a strict stop loss is recommended. It is very fairly common to see a pullback near to neck line after formation of the pattern. It should generally be seen as a healthy thing as it gives better confirmation of neckline as resistance. In some case the pull back may happen few times. If this happens too many times then it may not be typical double top pattern. In case of pullback, it is recommended to keep a stop loss of about 3% above neck line.
NSE:SBINShort
by prajwalasp
1