State-Bank- H&S FailureStock has given a failure breakout of H&S pattern. This suggests that stock is likely to move higher towards 675 in the coming days. Buy on CMP, add on dips , keeping SL of 575, look for the tgt of 645/675
Sbinanalysis
SBIN - Breakout with Gap. Can this be a Run-away gap ?The 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. This is a continuation breakout chart.
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.
SBI: Head & ShoulderStock has formed a Head and shoulder pattern who se neckline is identified at 553. A sustained move below 553 shall bring the stock down towards the measured target zone of 493-95
THEORY:
This pattern forms after an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bull rally in which the volumes are quite large.
At the end of the left shoulder, a minor correction takes place on the downside which happens on the low volumes comparatively the starting of the left shoulder. After this, again an up move can be seen on large volumes forming a head whose top is above the left shoulder following a correction on lower volumes & completing the head.
The completion of the head must be below the top of the left shoulder. If the prices fall down below the low of the left shoulder then too this pattern remains intact. In the end, the right shoulder is formed usually on smaller volumes comparatively the previous two rallies.
Now if you connect the bottoms of the left shoulder, head & the right shoulder there will be a formation of the ‘Neckline‘. This line will act as a decision line. If the prices break this neckline & give closing below the line, this will be the confirmation of the breakdown of the H&S pattern.
However, it has been noticed that after breaking of the neckline the prices again attracted towards this neckline. We say this phenomenon as a retest of the neckline which will add some more confidence while trading this pattern.
After retesting if the prices again come down this will be the final confirmation of the downside movement of the price as shown below.
The bookish target of this pattern is taken as the vertical price range from the top of the head to the neckline & the bookish Stop loss should be the top of the right shoulder. However this stop loss can be big, so it is advised to keep a stop loss of 4-5% of the price range above the neckline.
Weak below supportSBIN is looking weak below the support levels as it has formed the head and shoulder pattern on the top and Indian financial banks like HDFC banks are also under pressure ....
Largest Public sector bankHere, is the chart of Largest Public sector bank - SBIN....
What's your opinion? Bullish or Bearish?
SBI - Double Bottom PatternSBI has formed Double Bottom Pattern and started to gave a breakout from 568 as that was resistance line. Based on the pattern target can be set as 625-630.
Disclaimer:
This idea is only for education purpose, Please consult your financial advisor.
I am not SEBI registered.
STATE BANK OF INDIA Go shortSBIN go short if you see bearish candle and as per my plan wait for opportunity. Follow me.
😊😉
Evening star in SBIN, can it take stock lower?SBIN has given a fall of 7% in this week after forming a double top pattern.
An evening star pattern has been formed on the weekly time frame and stock has closed below the 20 ema.
After trading around the ATH stock has given a nice fall and in the last trading session too it has given 3% fall.
Volume indicator also confirms the pattern as the volume of the red candle is higher than the doji candle formed previously.
A short trade can be initiated in the stock once it starts trading below today's week low. The stock can test 550 levels so as there are high chances of froming lower lows lower highs.
The stock may take a halt candle on the daily charts, as it has formed 4 red candle and is trading between both the moving averages.
If the stock retest higher levels before giving another bearish leg, sell positions can be created once there is a negative candle formation near golden ratio of fibonacci series.
Entry :- Below 571, On bearish candle around 600 levels.
Targets :-555, 505
Stop losses should be created on 1:2 or 1:3 basis.
Positional trades can be initiated in the stock as it may take time to test the levels. Next expiry future or options can be sold as August expiry option will take profit due to time decay.
Wait for the price action near the levels before entering the market.
Bearish Shark In SBINBearish Shark In SBI
Sell PRZ - 606 - 609
SL - 621.5 ( Day Closing Basis )
Target - 580/566/554
SBIN BLASTTTTTT As per our analysis SBIN Breakout done successfully.
Target 1 593 Done
Target 2 600 waiting
SBIN READY TO FLYSBIN ready to fly. SBIN is on very good consolidation zone of 593. SBIN can take very good support from here.
Targets as follows,
Long Target 600 - 608
SBI LIFE INSURANCE LONGSBI Life is a long at current levels.
1. RSI>50
2. Trend Breakout
3. Retest
4.Good Volume
5.Weekly Crossover of MACD
SBIN TO ALL TIME HIGHS AGAIN?NSE:SBIN SBIN is showing bullish reversal sign and can achieve 560 level zone easily in coming weeks with buy on deeps strategy (only in new high new low formation) .
current resistance for sbin is at 533/532 zone, above that 540 /538 is the next resistance zone,
best entry will be when sbin hits 540/538 res zone and retests previous resitance of 433/532 and makes it a new support, sl should be be 510 as current support zone is at 521/517 from which sbin can carry on the upside trend move.
SBIN break out dubble bottom SBIN stock
weekly bullish
SBIN share trong bullish
for weekly time frame dubble bottom
nekline break out
bullish stock
tomorrow retresment
Nekline
tan buy position
1/2 book profit
No Recommend buy and sell
study purpose only
SBI : VCP Breakout - Positional (1-3 months minimum)#SBI : VCP Breakout
Positional Call (1-3 months minimum)
>> Entry at cmp or at retracement till safe entry levelz
>> Good Volume Buildup
>> Good strength in Stock
>> Swing Traders can book profits at 5-10% or keep trailing
Trgts : It will test the Previous Swing highs
Keep Liking & sharing for more such Learning
SBI Triangle - Breakout or Breakdown?SBI is at a crucial point, breakout or breakdown with volumes of this pattern will decide its long term trend.
#SBIN Analysis Stock has retested its major support of 490 levels and again volume build up is seen, very soon ATH may be seen.
Short on SBI chartCMP 542 , Target 450 , Time frame March 2023, Looking at the monthly charts from here we see a doji condle is formed at the upper end of the bollinger band at the January month followed by downtrend on Feb month . Expecting the SBI charts to show downtrend till 450 by March expiry.
SBI - 1 Hr- Elliott WaveHere is the Elliott wave analysis of SBI on 1 Hr Tf, the following are the inferences.
1. Security is in the downtrend.
2. Wave C is getting completed, major correction is going on.
3. Wave C is generally impulsive in nature, i.e results in sharp correction either time/price-wise.
4. First target already achieved.
5. 2-3 targets marked with fib projections.
It might also change direction for an up-move, but that will be a sell-on-rise opportunity until a proper impulse starts upwards.
Views are personal, only for educational purposes!
Please don't treat this as trading advice.
SBIN hourly chartSBIN chart on 1 hours moving average crossover- bullish sign mid term.
if break 526 level and hold then go upward. level draw in chart.
I am not recommendation buy or sell.. those level only educational purpose.
SBI towards crucial support zones SBI the largest public sector bank is forming a head & shoulder pattern on weekly charts along with a breach of neckline support from where early breakout occurred. given that ads negative trend strength is rising , If the momentum support at psi 40 breaches along with a confluence support breach of bottom trendline from 2020, then it could be retesting the previous swing low at 500 & if could not find help there could be heading to swing low near fib retracement 38 neat 450.
Sbi Super Negative On Weekly & Daily ChartSbi Study : Cmp 531
Last 3 Weeks Lowest Closing.
All The Technical Parameters Super Negative On D + W Charts.
Immediate Super Strong Resistance At 565 ( Day Closing Basis )
No Major Up-move Expected Until Give Weekly Close Above 605
Sell On Rise With SL Of 565 ( Day Closing Basis )
