Trend to continue SBIN is having support at 310-305 range . Price can drift towards center median line and then bounce. Two slopes are converging in this zone. Bullish hidden divergence is clearly visible. 65 DEMA may offer some resistance to seller.
Disc : it's not an investment advice to buy or sell
Sbin
SBI going towards 385?I have shared the idea to buy SBI Bank near 358 and it made the low of 357.25, we saw a great bounce and our TradePro subscribers booked great profit in this trade. Now if it sustains above Friday's high we may see 385 odd levels.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Chart Of the Week !! 21 March 2021 !!*Stock has given a breakout after 10 years of long consolidation on weekly chart .
*After breakout stock has pullback TO its support area and filled up the gap in daily chart which has created at the time of breakout .
*Life time high breakout already happened.
*If we look at the volume part, significant volume activity is witnessed at the time of breakout.
*Price has also trading all the important moving averages.
*Considering all technical evidences we may see good up move in SBIN.
CMP-471.00 RECO-Buy Entry Range-Rs.365.00-373.00 Target-520.00/630.00 Stop Loss-358.00 closing basis.
Duration- 06 to 12 Months.
Thanks for reading and kindly let us know if you have any questions.
SBIN - GAP FILLED AND BULLISH HAMMER CANDLE AT RECENT SUPPNote:
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SBI Run Away Gap UpDespite the stock was having food momentum, buyer support and volume, I have been staying away from SBI since 30 points run away gap up was formed after the budget event. The huge run away gap up of 30 points to be filled soon. the demand zone for short and long term still remains at 320-350 range.