SBI looks wak on daily chart . CCI has crossed from above 100 to below 0, signalling short term down trend to continue. It is standing at 20 Days EMA. Swing high and low in last 3 instances saw spike in volume and then change in trend. Same has happened at swing high of 364. Triangle in viewed as continuation of previous trend (in this case up trend). But...
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ANY DIP IN SBIN IS OPPORTUNITY TO ACCUMULATE .....!!!
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SBI seems to be in a negative bias in the short term. Good candidate to short.
Triangle pattern observed in SBIN. Pattern looks to have confirmed suggesting a bearish outlook. Target depth of triangle is around 25 points. With confirmation of pattern occurring at 347.50, Target of the pattern comes in at 322.70. A retracement towards the pattern before further weakness cannot be ruled out. Notice that 334 could offer a good support.
90% for 366.20
target for sbin tomarrow is 359.20, long...as in chart
Sell on rise at 352 -353 sl 350 TGT 336 ( Moving average cross over)