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Sbinanalysis

SBI Signals BearishnessState bank of India On the Daily chart trading between Range of 430- 545 from last 2-3 months. Currently Stock has hit the Higher side of the Range i.e. 545 and a Doji Candle formation followed by Bearish Engulfing candle Pattern formation is observed near Resistance levels. Also banking stocks looked to be over heated so there can be some correction in the banking stocks. I am Short selling SBIN future Around current price of 530 for with stoploss 16 Points above 546.50 and Targets of 2X i.e. 500- 490 in the next 5-7 Trading sessions.
NSE:SBIN1!Short
by JustProfitPlay
Keep and eye on SBI!SBIN is testing it's resistance for the third time and there is a high probability that it can give a breakout this time. BANKNIFTY has also tested it's resistance for third time and has given a breakout, so there is a high chance of SBIN making it through. 3 scenarios are possible; Scenario 1 Breakout in the range of 543 and move upside to the range of 577-585, This can be the first Target. Scenario 2 Breakout in the range of 543 and test this range as support before giving an up move. Scenario 3 In case the stock fails to give a breakout, the immediate support would be 520. If it takes this support, further up move can be expected after a bit of consolidation. Please perform your due diligence before taking any trade and set a stop loss according to your risk appetite. Happy Trading :)
NSE:SBINLong
by Naren_Abbaraju
5