I HAVE SHOWN TWO GAPS ONE GAP WAS FILLED ON SATURDAY NOW IT MAY OR MAY NOT FILL SECOND GAP BUT AS IT IS NEAR IT MAY BE FILLED THEN WE HAVE TO WATCH PRICE ACTION AFTER GAP FILLS SAFE PLACE TO GO LONG WILL BE 291 APPROX
HEY GUYS, NOW I AM HERE TO SHOW YOU THAT IN CHARTS WE CAN SEE THAT SBIN HAS BROKEN ITS ASCENDING TRIANGLE PATTERN AND NOW IT HAS BEEN CONFIRMED THAT NOW IT CAN GO UP. SO, WE MAY SEE THE BULLISH MOVES IN SBIN.
THERE IS A HUGE DIVERGENCE IN THE PRICE RATIO GOOD TIME TO EXECUTE PAIR
STATISTICAL ARBITRAGE POSSIBLE
BUY SBI FUT @286
BUY SBI CASH @285.45
SHORT ICICI FUT @413
WAIT FOR MY EXIT SIGNAL!!
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.
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...