CMP 542 , Target 450 , Time frame March 2023, Looking at the monthly charts from here we see a doji condle is formed at the upper end of the bollinger band at the January month followed by downtrend on Feb month . Expecting the SBI charts to show downtrend till 450 by March expiry.
Stock is falling in an impulsive structure Dec'22 high of 529. The impulsive structure suggests that a larger correction is going to occur in the coming weeks. As per the current price action prices have already concluded its 4th wave at 557 and is now ready for its 5th wave. Alternatively prices are likely to unfold its 4th wave as Bearish Triangle which will...
SBI spot cmp 465 Elliot wave study Time frame :- Daily Major impulse phase and minor impulse phase of major wave 5 have matured around this levels,, dual bearish divergence in RSI indicate the trend is about to mature,, reversal in trend possible around this levels,, Keep watch can reverse by 10 to 15% from current levels Good short candidate
SBIN short entry below 430 target 1: 424 target 2: 420 sl: 434 Sbin is already on short with pullback upto neckline at 430-431 on head and shoulder pattern. We see SBIN here to follow downward trend line from here.
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.
you must take this short opportunity SBIN #SHORTSELLING all positions has shown in chart ENTRY , TARGET 1 , TARGET 2 , SL "HAPPY TRADING"