elliot correction wave forming a patter of OABC
STATE BANK OF INDIA (SBIN) has breakout of range consolidation, Stock today on August 2020 breakout of Rising Wedge patter as marked on the chart. We can see levels upto 248- 250 in the next 2-4 months. One can Go long with the stoploss below 188 on Weekly closing basis.
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 .
The Inverted J pattern (also knows as the inverted ascending scallop) is a very bullish pattern. SBIN is trading on this pattern from last few sessions and expect the same on 24 Aug. Target on the chart. 207 seems to be a very strong resistance, sell at 206 and book the profit.
sbi bank has broken its consoldation range and it is on verge of breakout so once it crossed 210 and stays above it for an hour you can go for 1s target 222 rs 2nd target 280
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...
GOOD VOLUME HAS SEEN INCREASES IN OI MACD CROSS OVER NEAR BREAKOUT
SBIN after a long consolidation have given a breakout of the major resistance of 195-200 zone and at the same time given a breakout of symetrical triangle pattern and now retesting it. A long trade can be initiated here with sl of previous swing low for target1 and target2.
NSE:SBIN is still making higher lows within INR200.00 range for the last few months. This is with reference to my post on Aug 5th when first suggesting that SBIN has been making higher lows and the time frame rapidly reducing for the swings. Breakout can be expected once it crosses the sentimental INR204.00 range.
STATE BANK OF INDIA (SBIN). SBIN CLOSE THE WEEKLY RESISTANCE. AFTER LONG STRUGGLE. NOW THE RESISTANCE SHOULD CONSIDER AS AN SUPPORT BUT, HERE INSTITUTIONAL PLAYERS ARE POSSIBLE TO ENTER. SO, WAIT TO WEEKLY CANDLE CLOSE ABOVE THE WEEKLY SUPPLY ZONE. THEN ENTER THE MARKET. THAT MUST BE SAFE AND WE MAKE A GOOD PROFIT.
NSE:SBIN MY DAILY VIEW ON BANKNIFTY BUY ON DIP TARGET 260