SBILIFE trade ideas
Multi Year Breakout - with Ascending Triangle Pattern SBI Life Insurance is involved in the business activities of Life insurance.
The Stock is ready to break out a multi year resistance placed around 1020 levels. The Stock is technically placed at 10% above its 50 DMA. The RSI Levels are around 69 which is still not overbought.
The Company is fundamentally strong backed by SBI. Further, the company belongs to Life Insurance Sector which has a huge potential in coming years. An annual revenue growth of 28% is outstanding & ROE of 16% is good. The Company is Debt Free. FPI has increased their stake from 26.15% in June, 2020 to 30.51% in March 2021.
Watch out for breakout above 1020 levels. For Swing & Positional Traders, add only after close above 1040 for targets of 1200-1300 with SL at 970. Long Term Investors can keep accumulating with SL at 900 for Targets of 1500-1600
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SBI Life Insurance - Ascending Triangle Breakout on WEEKLY chartSBI Life Insurance Company Ltd. Was in a consolidation for last 9 months since 27th July 2020. This consolidation is characterised by the rising resistance line as well as rising support line. Price gave the upward breakout to the consolidation on the weekly candle (Week 3rd May-7th May) and closed at Rs.1,000.25 with massive volume support. I anticipate the price target of Rs.1,145 and suggest the stop loss at Rs.959 to be followed for the first four weekly candles after the breakout candle. Thereafter, the profit booking/ exit decision should be based on the achievement of the price target or downward crossover of 26 EMA by 5 EMA. The price target is expected to be achieved in 5 months after the current breakout candle.
NOTE: This idea is an attempt to predict the future price movement. Investment decision based on this idea, if any, shall be at the sole risk of the investor.
SBILIFE - At resistance - Close above - LongPrice rejecting big from the resistance, unable to close above the zone. If closes above strong then one can go long with a stop below the resistance.
SBI LIFE (NSE CASH)SBILIFE (NSE CASH)
CHART ANALYSIS
LTP: 1000.25
SUPPORT: 983.45
RESISTANCE: 1031.25
DATA
IMPORTANT LEVELS WITH OPEN INTEREST
980pe: 237000 (2nd SUPPORT / STOP LOSS LEVEL)
1000ce: 714000 (STRONG SUPPORT)
1020ce: 452250 (1st TARGET)
1050ce: 481500 (2nd TARGET)
***BUY CALL RETAINED WITH NEW TARGETS.
MARKET CAP: 506.254B (ABOVE 200B / VERY GOOD)
VOL: 3.16M (ABOVE 500K / VERY GOOD)
REL VOL: 2.05 (ABOVE 2 / GOOD)
AVG VOL: 7.665M (ABOVE 100K / VERY GOOD)
FLOAT: 459.5M (BELOW 2B / VERY GOOD)
SBI Life - sentiment is bullish viewSmart money entered …..any close above 987 or 1020 ….can test 1100-1200..
technically in strong zone
SBILIFE looks weak !!!SBILIFE : cmp : 973.1
Looks weak in daily chart. Seel on rally near 986/989 zone
TGT 961/942
Sl 1001 clbs
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally.
SBI LIFE HAS FORMED LONG TERM W SBI LIFE HAS FORMED LONG TERM W. ONCE CROSESS 1030 LEVEL IT CAN BE A FRESH BREAKOUT !!!
SBILIFE: GETTING READY FOR BREAKOUT NSE:SBILIFE
It has strongly closed at the resistance level with huge volume.
it should close above 984 for intraday.
one can wait for confirmation of breakout then enter.
Not a Trade Advice or Recommendation.
Do your analysis and Consult your Advisor.
SBI LIFE is looking BullishSBI LIFE is bullish (Closing above 911)
Kindly refer chart for more details and like my page and inbox me In case of any query::
long sbilifeDue to second wave of covid people understanding importance of insurance hence demand will increase as we can see in chart prices are making higher lows and reached at its supply zone if buying will beat supply zone then we may see a good upside.
SBI LIFE Triangle PatternA very good share having good fundamentals and technicals with a good closing for the week and on the monthly chart.Can buy the share for the long term because the share is strong and also the sector from which it comes.Can give good return if held for a long time.
Must be a part of the portfolio once it crosses its major resistance of 1000 it has good capabilities.
SBILIFE SHORT TERM In the ongoing market volatility, select life insurance companies largely remained resilient and outperformed the markets.
SBI Life is one such stock, which has largely consolidated above its highest Put base of 900 amid increased pick-up in
delivery volumes. Th Stock can see 980 levels in coming few weeks.
Sbi life in weekly chart running in rangeSbilife in weekly chart running in range if breaken can see good move above this.if not break wait with patience
