SBIN
We are looking at weekly chart of SBIN stock
Observations
- SBIN is yet to give a weekly closing above the Sept 12 - Sept 19 weekly high
- support at 554 / 545 / 530 zone
Given the set up
One can wait for SBIN to close and sustain above 579 on a weekly closing basis or for at least 3 days before taking for fresh long position
Otherwise 530-540 zone could...
SBIN has been consolidating for years and years.
I personally expect this 10-year consolidation to break out this time and follow the pattern as expected.
Buy in Cash at CMP, Buy more at 270-280. Add even more at 230-240 levels if it comes.
SL 200 - Monthly close basis.
Targets 373-466-598.
Let's review this after a year or two.
Dis:- Holding from much lower...
#NIFTY50
GLOBAL MARKET : Mild Bullish
Nifty : 1D - Mild Bearish : Strong support at 17600 & Resistance at 17800 . If Nifty breaks, close and cross above 17800 in 1hr candle then look out for 18000.
Sectors To watch: IT, Pharma.
Stocks : #canbk, #sbin, #TechMahindra
NSE: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.
#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...
higher 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
#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 :
...
Wait 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...
SBIN 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...
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 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.
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...
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...
