SBIN Test Supplyzone Keep Watch retest If Fail Don't Enter Target 316-310
SBIN :- Do U believe breakout? Plan A : If retest Done Target 308 & 333 Plan A : If retest Fail Target 277 & 263
Completing a brief pull back for prior fall, SBIN appears to have resumed bear trend. Previous low at 354 is taken down with a strong momentum; advantage bears. With over all market in risk off mood a recovery anytime is less likely, which means we could see further fall from current levels. Support levels are seen at 348, 342 (Fib level) and 336. (Disclaimer:...
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