SBIN has given a fall of 7% in this week after forming a double top pattern.
An evening star pattern has been formed on the weekly time frame and stock has closed below the 20 ema.
After trading around the ATH stock has given a nice fall and in the last trading session too it has given 3% fall.
Volume indicator also confirms the pattern as the volume of the...
Sbi Study : Cmp 531
Last 3 Weeks Lowest Closing.
All The Technical Parameters Super Negative On D + W Charts.
Immediate Super Strong Resistance At 565 ( Day Closing Basis )
No Major Up-move Expected Until Give Weekly Close Above 605
Sell On Rise With SL Of 565 ( Day Closing Basis )
SBIN short entry below 430
target 1: 424
target 2: 420
sl: 432
Sbin has broken below neckline of 430, we can take short entry from here for target of 424 and 420. We can take entry now at 429 or wait for pullback upto neckline at 430.
There is previous Monthly high of 427.7 which will give some support. Below it we can see fast movement towards our targets.
I hope you can now see how Sbin represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Thank You
Disclaimer: It should not be assumed...
We are looking at the Monthly chart here; we clearly see Wave 1, 2, 3, 4 complete and now Wave 5 is forming;
Wave 1 and 5 are almost similar waves in terms of both magnitude and direction also Wave 5 each and every time definitely breaks the low made by the end of Wave 3 therefore we are super sure that it will cross the previous low of Rs. 149.45.
Let's...
We have a Leading Diagonal which makes Wave 1;
We have a Type 1 Zigzag here and Wave 5 completes the Upward Impulse move and now will start the Correction;
In correction we have Waves A; B and C
This is Wave A.
This completes Wave B
Now we will check how much the Wave B has retraced into Wave A; that will tell us what will form in Wave C;
...
I hope you can now see how SBIN represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the...
Expecting a strong reversal in SBIN and it will touch the strong retracement level of 163 within 2 days, and can go further until 160.3 of 50% retracement.
Wait and watch...
