Long SBIN:
A declining trend line is broken by SBIN on the weekly time frame and if you are an aggressive trader, then you can enter here, else wait for weekly closing above 282. Looks like the 3rd wave of Elliot wave pattern.
Crossed the trendline. But without volume.
Price rejected from 78.6% fib zone.
The move might not sustain. But what is bothering is the rejection candle at 200EMA. Have to really keep a close watch.
Your thoughts ?
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 .
Thank You
Disclaimer: It should not be assumed...
State bank of India (SBI) - Ascending channel pattern formation at monthly time frame. After S5 support channel breakdown Market has taken support at S4 and reversed. Expecting to reach R5 zone within one or two years
Disclaimer : All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
SBIN trade setup for 04 Jan 2021
SBIN took a good support at key price 272 and headed strong to 280. If price sustains above any of the marked buy zones look forward for 282/ 290 targets.
The forecasted Buy & sell zones are calculated based on historic price movements and the exact levels will be updated automatically by the indicator during the live market session.
SBIN 1th Jan Fully Buying Pressure Stock so 4th Jan Breakup Get the Entry Point 280.30 to 280.60, Target 283 to 284 , SL 279.6
Use 15 Minutes Charts Intraday Trade.
NSE:SBIN
as one can see its bearish harmonic pattern, sbin just got break out so one can long till above dash line and book only if find reversal seems like trend has just started.
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******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do...
