Sbin
[3-6 Months]Parallel Channel Breakout in SBIN For 545+ TargetSBIN looking good for investment purpose after the breakout of its parallel channel resistance. Expected this bullish rally in SBIN towards the 545+ target in the short term of the period(3-6 months).
If anyone followed the previous view on this stock and enter between @275-300 level then can hold for a further rally by trailing stop loss according to this view for almost 100% return on the upcoming trading session.
psu on firesbi if close this month above 380 with now atleast 6x volume from now, it can fire to 515 on fibbonacci extension also this is monthly chart so the target would be of approximate for nearly 1y to 3y and stoploss can hit easily but this year psu divestment can give boost to it. for educational purpose only.
State Bank of India forming bullish Engulfing on daily chart!SBI has formed bullish engulfing candle on bottom of Bollinger Bands, in daily time frame
On 1 Hour TF; it has has closed above median line of Bollinger Band and formed bullish candle; with MACD crossing from below line and health RSI
Can go long in Intraday / Swing trading.
For Intraday, I am buying with SL-M of 285, with SL 1 ATR (Rs.10); trail SL to cost on jump of 1% and keep trailing for every 1% move.
Appreciate your comments with feedback, to improvise my analysis.
Regards,
Ravi B