Statebankofindia

Trend line break out and positive news on SBI Trade Buy above - 274.60 Target - 276.85 Stop loss - 272.90

Symmetric Triangle on SBI - Neutral Symmetric 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 breakout From 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 !