BEST GOV. BANK NOW ON REVERSAL SO ADD IN YOUR PORTFOLIO FOR SHORT TERM THE FIRST TARGET IS 376 , SECOND TARGET IS 388 THEN AFTER 403 AND 420.
NOTE :- SHORT TERM ( 2 DAYS TO 3 MONTHS).
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Looking at SBIN on 15 mins chart we can observe that, every time SBIN comes near the resistance, there a good selling with good volume. Same has happened today. We can see a good reversal , engulfing candle & good selling volume from same resistance level. Look for short opportunity once support of the trendline is broken.
Price may move towards filling the gap.
Wait for the price to sustain above the trendline and marked zone.
Go Short if the price gets rejected from the Grey zone.
Price may also retest the support once more time before moving up.
Use appropriate risk-reward ratio.
Always use a stop loss.
P.S: This is NOT investment advice. This chart is meant for...
All the levels are mentioned in the chart.
Sell if it closes 15 min candle below the support area for targets of 373. Again at 373 there is support so if it reverses than close the trade and if it breaks 373 level than again sell for the targets of around 357.
Sell futures and Buy ITM puts or write calls as per your comfort.
Please comment if you have any doubts
SBI looks low valued stock around 250-270 range and RSI was around 60% with weekly breakout and huge volume support. Breakthrough at 250-270 range. It forms rectangular box pattern which breakout would be around 350-358... So as per price action looks strong..
Disclosure:- I am not having SBI position in my portfolio also this is only for study and educational...
No doubt its a result day so anything could happen, but early signs are bearish. I will wish it to give a closing above 340 level for further momentum. If results are not celebrated by markets then the history consequences is already plotted.
Chart By- ADARSH DEY
SBI has formed bullish engulfing candle on bottom of Bollinger Bands, in daily time frame
On 1 Hour TF; it has has closed above median line of Bollinger Band and formed bullish candle; with MACD crossing from below line and health RSI
Can go long in Intraday / Swing trading.
For Intraday, I am buying with SL-M of 285, with SL 1 ATR (Rs.10); trail SL to cost on...