Statebankofindia
SHORT TERM BUY || SBIN || SL 262Buy State Bank Of India with SL of 262 and potential targets of 269/271/275.
Adjust trading volumes as per entry price.
Disclaimer :
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. Any opinions, news, research, analyses, prices, or other information offered is provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Short SBIN with SL of 287.5Sell State Bank Of India with a SL of 287.5 and a target of 282.15. Adjust your volumes as per the entry price.
Disclaimer :
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. Any opinions, news, research, analyses, prices, or other information offered is provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
SBI : That Potential Cypher...In SBI, we have perfect-potential cypher formation if all goes as expected we will be getting reversal around the 305's zone to downside. RSI also looks bit oversold but on cypher completion it may go well above current levels.
Aggressive traders can enter Right on touch of 305's zone
Conservative traders look for additional setups in the zone or an reversal before entering !
Moreover Trade only if you have traded harmonics earlier, if No, its not at all a problem, Look for other simple setups in the same zone in SBI. As we usually say, all strategy's are good as long as it's followed with discipline, there is no need of complex ones.
state bank of india looks bearish in short term to medium termhead and shoulder pattern formed with a neck line around (281.5 - 280.5) level, which was a strong support also, which got broken later. Now price is retesting the broken level.
Here the pattern tgt - 256, and sl should be just above the right shoulder - 296.5 .
SBI : How we can play this...We already had failed setup on SBI, during RBI day though we caught the direction of breakout right, markets later moved up clearing our stops & eventually went far more than our targets. This happens all the time, but what we feel is SBI doing it for you alone, No it isn't so.
Right now, we are having triangle formation,
i) As 282's zone retest expected, we can expect upside breakout in triangle but being aggressive checking stops : your area.
ii) Once we get Bearish Reversal around our 282's zone, We can have shorts again in SBI
iii) The dotted line downside breakout for target of 266's is least possible in My expectations.
But on the whole if we get a move up to 282's then reversal to 266's will be a filler for our coffers.
Dare to touch SBI on RBI Day ?!We do all kinda stuff..And why on earth we are choosing a riskier scrip SBI on RBI day ? Bcos, we know our Risk, We Define our risk, We know how much we stand to lose in that risk, so that helps our trading plan.
Here there was bearish momentum on hourly SBI and its ranging for sometime, so eventually Bearish breakout expected, I will be taking this trade on Bearish breakout, check with your tradeplan, Determine what is your SL & Target !
Note : This is just how I Plan, Don't do this solely bcos I'm doing it :)
Symmetric Triangle on SBI - NeutralSymmetric Triangle on SBI and it may break either side. one more formation called falling wedge ( combine with orange and top yellow line but it will break on top ( bullish). Moreover SBIN currently lying on Strong support and statement - MAKE or BREAK
Levels for Long: (Make)
Level 1 - 259
Level 2 - 265
Level 3 - 273
Levels for Short: (Break)
Level 1 - 233
Level 2 - 223
State Bank of India (SBIN)This stock is currently mildly bullish, though it has remained range bound between 250 and 275 levels. The relative strength vis-a-vis BSE shows that stock has underperformed the index consistently over the past 5 years. The relative strength however confirms an upward trend of this stock and therefore dips may present good buying opportunties. With consolidation of several nationalised banks and additional revenues due to demonetisation banks remain good bets and SBI is a good pick.
SBI : Biased towards upside breakoutFrom the SBI chart you know the direction I expect and its ready for breakout. Why Gap up ?? if you are wondering why, if a gap happens you will miss out the trade which will hit targets & you will be scolding yourself for not taking trade on friday evening.
Anyway, only if you are willing to risk over two days then check with your plan & trade this SBI setup.
Happy Trading !