Triangle pattern observed in SBIN. Pattern looks to have confirmed suggesting a bearish outlook. Target depth of triangle is around 25 points. With confirmation of pattern occurring at 347.50, Target of the pattern comes in at 322.70. A retracement towards the pattern before further weakness cannot be ruled out. Notice that 334 could offer a good support.
SBIN is forming a bear flag on hourly timeframe. Explained in Charts.
Recent bullishness and last week close above 350 levels in SBIN warrants more attention. 325 to 350 region has been a zone of uncertainty with many failed breakouts. It should be noted that ATR during last week was around 18. The stock moved into a historical supply zone with 2ATR move of 35 pts. This calls for caution. The current sharp move upwards was...
SBIN Test supply Zone Keep watch And Trade safe... Target 288 & 277
SBIN Wedge Pattern breakout... Keep watch trade Safe Target 270 & 250