The stock is trading in a range from the last few sessions, 400-385, and breaking this range on any side would give a good trade opportunity.
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Watch SBIN on a daily and weekly chart. It is testing the descending trend line. Depending on the overall market sentiments, it can breakout or come down in the coming days
Note: This is for educational purpose only.
There seems to be a hammer candlestick pattern formation which is formed at the previous support levels. This hammer is apparently seen to be forming at the lower band of Bollinger band as well. RSI has bounced from oversold zone.
Entry Price: ₹183
SL Price: ₹171
Target: ₹195 - ₹210
I hope you can now see how Sbin represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the...
this is my 1st post
as you can see SBIN formed INVERSE HEAD AND SHOULDER pattern and we saw a break out and showing bullish sign today can expect to reach near 240 .
Important for reversal 176.5 & 171.5, the outcome was clear that we would get a smart move higher.
Point to be noted: Volume must be higher than average at the both key levels to take long position.
if sentiment remains strong, we could even see 182/189.5.
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