SBIN....Currently getting rejected @ trendline...
in all probability B/O inevitable...
trading levels marked....
Sbin
SBIN LEVELS FOR MONDAY - 24-10-2022Important SBIN Levels ( Support & Resistance ) for Monday Market- 24-10-2022.
CANBK T2 Hit, trail nowNSE:CANBK
#NSE:CANBK shared @ 250 now trading @ 270 which is 8%, Trail now or book partial profits.
Share your profit screenshots.
Details in my signature column.
NIFTY : 19TH OCT#NIFTYINDEX, #NIFTY50
* NIFTY INDEX : RESISTANCE AT 17550 - STRONG SUPPORT AT 17000.
> After two day rally, Nifty may go for consolidation mode. Banking Sector rally may continue, that will make nifty to break 17600.
> Global Market seems to be in consolidation Mode or Profit Booking after huge rally for past 2 days.
* NIFTY TECHNICAL : NEUTRAL , HUGE GAP UP WILL BE DIFFICULT TO SUSTAIN UNTILL ANY POSITIVE NEWS.
AT 17500 OI : CALL - 85 L
PUT - 52 L.
* SECTOR TO WATCH : BANKING, AUTO
DAILY CHART : RESISTANCE AT 17550 .
STOCKS TO WATCH : #TATAPOWER, #CANBK, #SBIN #AUBANK, #FEDERALBANK.
Canara bank and Sbi both made huge rally, with expecting positive report from q2 result. After result, profit booking may happen.
state bank of indiahigher high in price and lower high in rsi
lower low in rsi and not in price indicating weakness going forward
this the most technically bearish stock in nifty as of now
my first targets near 500
targets will update later
NSE:SBIN
NIFTY : 18 OCT#NIFTY50 Under 1day candle nifty is in range bound between 16750 - 17450.
* DAY CHART TREND ANALYSIS : MILD BULLISH TREND
* 1Hr chart : Crucial resistance at 17350, yesterday nifty fails to take out this resistance. Can assume 17350 act as an strong resistance in
upcoming trading days
* 1Hr TREND ANALYSIS : BULLISH
* TODAYS OI DATA :
CALL OI 17300 : 67L
PUT OI 17300 : 52L
PCR : 0.76
* SECTORS TO WATCH OUT :
BANKING SECTOR - Specifically #SBI
SBINWait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the pullback.
6. Don’t chase the market.
7. Don’t fight the market.
8. Even in the strongest trends there should be some retracement.
9. The closer the market is to the trendline, the better the risk/reward ratio is.
10. Use ADX to determine the strength of the trend.
11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy
12. Hold trades longer in a strong trend.
13. Wait for confirmation of a trendline breaking before reversing position.
14. Know where the Support levels are.
15. Place stops outside the Support levels.
Thank You..
SBI Long TradeSBIN has completed A-B-C Correction and new impluse may start.
There are divergences seen in RSI which indicated seller are losing strengths.
There was also short covering in October futures which is also buy signal as people who were short in SBIN are booking there profits and buyer making new buying position.
Traders are requested to do their own analysis and please put comment.
Please give like and follow my Channel for more ideas and educative information.
BULLISH on SBIN (Weekly)NSE:SBIN
The prices have given the breakout from the trendline on the weekly chart. This view is for 6 to 12 months. The rest of the explanation is on the chart.
SBIN - H and S - Positional ShortSBIN Formed a head and shoulders and the price is at neckline.
At crucial Trend line support.
So move below 531/530 would make SBIN reach target of 510.
(Positional Short)
Trade not active yet.
Is SBIN on a re-test zone ??State bank of India, A heavy weight PSU bank is showing strength, Yesterday we saw good selling pressure on this scrip but unfortunately sellers failed to push and buyers taking the price higher. If price sustains above 550 then possibly we can see a strong upmove in this stock. keep in radar
#note - The idea is shared for educational purpose and not a trade recommendation, Please trade after consulting your trade advisor.
Thank You.
SBIN-Tweezer Top Candlestick Pattern Formed...SBIN- Stock Has Formed Bearish Reversal Candlestick Pattern Tweezer Top Weekly Chart. Short Below-530.Stop Loss-580.Expect a Target-500/440.only Education Purpose...
After breakout SBI retestingSBI gave a breakout but breakout don't have much volume. Now looks like its retesting. Let's see what will happen...
what you think?
SBI#SBIN IHnS formation which may take this to 650
CMP 573.. Banknifty is very strong and all big Banks are still having lot of steam left
SBIN - Breakout of ATH level - Swing TradeThe analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
SBINWait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the pullback.
6. Don’t chase the market.
7. Don’t fight the market.
8. Even in the strongest trends there should be some retracement.
9. The closer the market is to the trendline, the better the risk/reward ratio is.
10. Use ADX to determine the strength of the trend.
11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy
12. Hold trades longer in a strong trend.
13. Wait for confirmation of a trendline breaking before reversing position.
14. Know where the Support levels are.
15. Place stops outside the Support levels.
Thank You..
SBIN Big Breakout SBIN Future Trading at All time Highs, After A huge consolidation finally Range breakout in the stock is seen. Stock has entered un charted Territory, And head towards 600-650 in the next 3-6 Months. We are bullish on the Stock on Short Term basis. And We are initiating Buy position in SBIN Future @ 555 With Stoploss of 530 For the Targets of 580-600 for Swing Trading i.e. September Series.
SBI Intraday Trade setup for 8th SeptHi Guys,
Support and resistance marked with trend line. Either Side breakout will give good return.
Note - Please add proper SL before taking any position. Manage your risk.
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SBIN, ready for breakout??SBIN is trading in zones since long time. Is it ready for the breakout above 549? What are your views after seeing chart?
SBIN may give a break out of the consolidation zone.SBIN has been trading in a zone and on the weekly time frame has closed near the resistance zone.
The stock has been trading above the weekly 20 ema and has given an bullish engulfing candle.
On the daily time frame, the stock has formed an inside candle.
If the stock breaks above the consolidation zone, nice targets can be achieved.
Higher time frame break out can give a nice movement.
Support :- 509, 490
Resistance :- 543, 580(monthly fib level)
Only go for a bullish trade if the stock closes above 543 on the daily time frame.
Intraday and swing trades can be initiated in the stock.
Time To Accumulate!#SBIN
508 to 549 is the range. Needs a Weekly Closing Below or above these levels respectively. I am with Bulls in this case. Let's make SBIN great again! :-)
SBINNSE:SBIN
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
