*Swing Trade*
Buy SBI Life between 1495-1505
SL 1450
Target 1: 1570
Target 2: 1600
Duration 1-2 weeks
50Rs SL per quantity trade as per your risk rewards capacity.
Previous Long term resistance of 1380 has now become the support level for SBI LIFE.
When a resistance turns into a support it adds more confidence to the upcoming trend.
Currently we can see a breakout from a descending triangle pattern in the daily Time Frame.
Currently a good HH and HL is observed in Daily Candles there fore we can expect further movement...
Stock is in Consolidation Phase, after making a Higher High.
Have a Tight SL for this Current Trade Set up.
Good RR favours.
Have your own Analysis before any trade.
SBI Life looks good for a positional trade.
Buying above Rs 1021, SL will be Rs 997.
Target to be decided afterwards.
Disclaimer: The views expressed in this article is of my own. You're solely responsible for any decision taken in the markets, resulting in financial gains or losses. The analysis I've shared is for informational and educational purposes only.
SBILife has given ATH breakout with good volumes.
It is a Inverted head and shoulder pattern breakout.
Minimum target can be 1600. SL can be below 1225 DCB. Try to enter at retest in 1300-1325 zone.
Please note that swing trade of ATH breakouts in an FNO stock is always risky.
Idea shared for educational purposes only.
Attached: SBILIFE Daily Chart as of 21st April 2023
For the Levels, it is already marked in the Chart (SELF EXPLANATORY)
Stop Loss > 1136
Downside Target 1= 1074
Downside Target 2= 1054
For the Thesis as to why it is a SHORT:
- the 17th April Candle was a Breakout Candle that turned out to be a BULL TRAP Candle, so all the Bulls that entered got Liquidated as...
SBI Life has formed double bottom pattern on daily chart. while the RSI is making higher lows which is sign of RSI Bullish Divergence.
Entry:
We can go long after close of strong bullish candle near support zone.
Stoploss:
We can keep stoploss below the support zone.
Target:
We can keep target near the next resistance zone which will be also the neckline of W...
Chart pattern look interesting for a short trade
Reasons
1. SBILIFE travelling in a Descending channel pattern ( hourly time frame)
2. Now, it has formed a DOUBLETOP pattern (with a perfect High & Lower High as the two tops )
3. Lower low too formed on Friday, increasing our probability and thus Breakdown!!!
4. SL & Target levels mentioned @ chart as...
Price has formed a double pattern on daily chart. while the RSI is making higher lows which is clear sign of RSI Bullish Divergence. We can take long trade.
Entry
We can go long on open of next candle.
Target
Target 1 will be the nearest resistance zone which will be also the neckline of W pattern as marked on chart.
Target 2 will be next next resistance zone...
@SBILIFE #SBILIFE
SBILIFE : Almost 40% MOvement expected.
almost 40% Profit
Breakdown Happened on lower timeframe, so first target is 1072, if it crosses 1072 and acts as resistance, the we can expect a huge downward movement upto 750 i.e 40% profit.
NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL...
