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Sbin

SBI - Long - Target Rs.370Sbi has shown extreme weakness over the last few weeks, with recent gap downs on the daily chart. We can expect a rebound off of the current level which is its Feb 2020 High , (Double bottom on daily chart). It may drop further to the bottom upward trend line (Bold Blue) at ~315 before rebounding. How to trade going forward: One can buy in at the current level, with a stop loss at ~310. Book partial profits at the upper end of the channel, marked with a blue arrow, at ~340-45 levels. Hold until it breaks this channel with above average volumes and then retests this 345 level before buying more. Set trailing stop losses from there on. Target: #1 - 340 #2 - 370 SL: 310
NSE:SBINLong
by Technical_TB
SBIN | Pre-Breakout(Intraday / Swing / Positional) Trade | RR 1:2+ | Type:- Pre - Breakout Reasons To Trade🤔 :- Stock Is In Overall Uptrend, Above 200DMA, Ready To Break- Flag Pattern / Falling Wedge = Both Supported By Fibonacci Retracement (50%) & RSI Divergence (With Good Consolidation). INTRADAY = Entry :- After Clear Breakout or Retest | Stop Loss :- What Suits You | Target's :- What Suits You SWING = Entry :- After Clear Breakout or Retest | Stop Loss :- 347 | Target's :- What Suits You POSITIONAL = Entry :- After Clear Breakout or Retest | Stop Loss :- 345 | Target's :- What Suits You -- Look For Healthy Volumes . Or Get Ready To Exit The Trade. (Risk Must Be Managed.) :- Intraday & Swing = < 2% / Positional = < 5% (Good Risk Per Trade). Keep Your Eyes On Index Or Any Bad News That Affect The Trade Or Market. FOLLOW 🤝 | LIKE 👍 | COMMENT ✍ -------------Any Suggestions--------------
NSE:SBINLong
by CT143