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...
The 52-week high is 1340.35.
Right now it's in the consolidation period.
Down we can see a GAP @1197.
If 1256 is taken away then it can go further down.
Interesting to watch-out.
SBI Life at a support level, you can go short once it breaks the support level. ⚠️ Enter after the close-in of 15min candle. The volume of the breakout/breakdown candle should be good enough.(/or the breakout candle should be strong). Target1 : 1230Rs/ 1% of the Stock Target2 : 1200Rs . Place Stop-loss logically // Ignore if the stock opens gap-up or gap-down....
Hi,
SBI Life is trading in a Upward channel and above todays high it can go upto recent highs around 1280 in coming days.
As of now its a good buy above todays high of 1149 with a SL of 1117 and target of around 1270 - 1290 is a strong resistance.
Daily Macd is again giving a buy and Weekly Macd is also giving a buy.
RSI is nicely placed above 50 and is showing...
📈 SBI Life 📉
My Findings :-
1. Breakout from resistance zone which was support also earlier.
2. Strong Candle at breakout.
3. Close Above March 2022 High.
Bias- Long
Target- 1205, 1234 and 1288
SL- 1099
RR- 1: 2
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more...
