Statebankofindia
SBIN ON 15 MINS CHARTLooking 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.
Sell SBIN, Head and shoulder pattern and gap fill chanceAll 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
STATE BANK OF INDIA - MOVING TO FILL THE GAP?
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 learning purposes only. This is my personal journal. Invest your capital at your own risk.
Is SBI violent move could be predicted??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 purpose. One should take trade with advice of there financial advisor. I am not suggesting or advising any BUY SELL OR HOLD Position.
State Bank of India forming bullish Engulfing on daily chart!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 jump of 1% and keep trailing for every 1% move.
Appreciate your comments with feedback, to improvise my analysis.
Regards,
Ravi B
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