Sbinbuy
18/10/2021 Research Report For SBINDisclaimer:
I am not SEBI registered person and this is not an investment advice and also please note this is only for education purpose. Also note we can use this research in my own portfolios. So don't influence yourself by this research. Please note before investing according to this educational research, please do own research and also do take advice from your financial adviser. Your any profits and loss are totally your liability. No one is liable for that. Also, please note we will not never compensate your any loss. So before investing any single rupee, please do your own research according to your risk taking capacity and after that do invest and book profits on right time.
Buy at CMP (Current Market Price)
Target 1: 520
SBIN Cup and Handle Pattern, Two Fib sequences merging, Long SBIN has been consolidating for past two months, and has formed a Cup and Handle pattern (take a look at the chart). Also it has been following a trendline, shown in the chart, currently trading near this trendline. Testing Fib level 1.618 of two distinct trends of past. Interestingly, the height of cup & handle pattern coincides with one of the Fib level (shown in the chart). Looks good for a long journey. Everything else is self explanatory, look at the chart.
All events are merging and I guess SBI is looking for a trigger to reach 550 target. Can the Q1 2021 result prove to be that trigger ? Technically, long trade is sound for target up to 550. Long above 446, Stop Loss 405.
Disclaimer: The information provided herein is for educational purpose. Please consult your financial advisor before making any decision.
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