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Sbipricesabouttocrash

SBIN | Monthly Close Holds the KeyRecent 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 supported by overall market exuberance rather than stock specific trigger. Weekly close should be taken with a grain of salt since the event was towards the end of the week. A comfortable close above 360 levels on Monthly time frame is required before adding to your high conviction Buy List.
NSE:SBIN
by AkhilSuryaFS
2
Humpty Dumpty About to fall- A modest compounder in makingNSE:SBIN BSE:SBIN The Reverse symmetrical triangle about the break after no support from weekly S1 level The next support as mentioned in the weekly also corresponds to be between 0.786 and 0.886 of the Fibonacci series ABC, also corresponds to be near the 618 or outer ML of the pitchfork.. Following the price magnet principle, the action is expected to go back to the median line of the pitchforkwhen the fibo level of 0.618 is expected to give resistance.... Also there is a Bullish Cypher in formation formation, with complements the theory.. Disclaimer.. Not invested but interested to bottom fish.. This is not a time dependent analysis This is not an investing/trading recommendation
NSE:SBIN
by capsule91
1