HI GUYS SBIN NEW MOVE KEEP WATCH....
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The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
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SBIN looking weak on chart but there is big consolidation range (224-240) that can help to pull back in SBIN. This range is best for accumulation but if there is breakdown than you can see the level of 160 too so Stay away for now and try to buy only above 244 and avoid short now. Just short in stock below 224 then you can see the big lower target in that.
Head and shoulders top.
Head and Shoulders Top
Head and Shoulders formation consists of a left shoulder, a head, and a right shoulder and a line drawn as the neckline. The left shoulder is formed at the end of an extensive move during which volume is noticeably high. After the peak of the left shoulder is formed, there is a subsequent reaction and prices slide...
It has been observed that the price action was consolidating at the support levels and now it breaks above the consolidation indicating buyers coming back strongly and pushing prices up.
T1- 261
T2-268
SL 248
SBI on its weekly chart has touched its 50 simple Moving average and bouncing back. A little support from the nifty is enough to take this stock to higher levels.
stock is trading at important zone
move above 292 might take the stock towards 299/300
any move below 285 might open up a downside towards 270 leves
so trade is on both sides
State Bank of India provides a range of products and services to personal, commercial enterprises, large corporates, public bodies and institutional customers. Its segments include Treasury, which includes the entire investment portfolio and trading in foreign exchange contracts and derivative contracts; Corporate/Wholesale Banking, which comprises the lending activities of Corporate Accounts Group, Mid Corporate Accounts Group and Stressed Assets Management Group; Retail Banking, which comprises branches in National Banking Group, which primarily includes Personal Banking activities, including lending activities to corporate customers having banking relations with branches in the National Banking Group, and Other Banking Business, which includes the operations of all the Non-Banking Subsidiaries/Joint Ventures other than SBI Life Insurance Co. Ltd. and SBI General Insurance Co. Ltd. Its geographical segments include Domestic Operations and Foreign Operations.
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BSE:SBIN
