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STATE BANK OF INDIA/NSE/BUYNSE:SBIN is at great support and has potential for a bull market as NSE:BANKNIFTY is also down. I have been following this stock and on 22nd Feb around 50% of the volume was taken delivery as per NSE data. This means people are buying NSE:SBIN . Being a Passive Investor I usually sell put options because if situation goes against my trade I can still buy the stock later. I feel one can make at least 5% from this trade. Now I am running at a 1.5% profit 29MAR2023 480PE - ₹ 5 (sell) 29MAR2023 460PE - ₹ 2.75(buy)-------------------- JUST FOR DECREASING THE MARGIN
NSE:SBINLong
by amangupta17022001
AUDUSD turns bearish but road to the south is long and bumpyEven if sustained trading below the 100-DMA and a three-month-old ascending trend line become necessary for the AUD/USD bears, a daily closing below the 200-DMA and an upward-sloping previous support line from October 2022 signals the pair’s further decline. Further, the bearish MACD signals and downbeat RSI adds strength to the downside bias. Hence, the sellers should wait for a clear downside move below 0.6720 to aim for the lows marked in late December and November of 2022, respectively around 0.6630 and 0.6585. Following that, the 61.8% Fibonacci retracement level of the Aussie pair’s October 2022 to February 2023 upside, near 0.6550, appears the last defense of the buyers. On the contrary, AUDUSD recovery remains elusive unless the quote stays below a convergence of the 200-DMA and four-month-old previous support, close to 0.6800. Adding to the upside filters is the December 2022 high near 0.6895 and the mid-month peak of 0.7030. In a case where the Aussie buyers keep the reins, the monthly high surrounding 0.7160 could lure the bulls. Overall, AUDUSD is ready to witness further downside but the downturn is less likely to be smooth.
by MTradingGlobal