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STATE BK OF INDIA

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SID trade ideas

SBINTrend deciding level is 600. How price will react around this zone will decide the trend direction. After this big fall price may move in range also for few days. Buy above 608 with the stop loss of 603 for the targets 613, 618 and 624. Sell below 596 with the stop loss of 601 for the targets 591, 586 and 580. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NSE:SBIN
by vanathi
Bullish move on SBIN charts (08/01/24). SBIN is trading around the highs and if forming a bullish flag and pole pattern. For last 3 weeks it is holding on to the higher levels. A nice bullish trade can be capture for a 10-12% move in near future. A nice move it has already given and it can touch another milestone of 700 in this quater. Break out can provide a nice up move in the stock. Positional trades in the stock and derivative can be initiated. Fundamentally the stock is good. A nifty50 stock is always good for investment purpose. Major levels are 660 & 700 on the higher side and support is around 620 levels. Wait for the break out to trade. In case of a break down avoid a trades as the lower side R:R is not suitable.
NSE:SBIN
by Mambotrade
2
SBI BANK: Running Triangle formationStock has already concluded it's running triangle structure at Oct'23 low of 543 and currently rising in an impulsive manner after the breakout. The measured target for this structure is coming in the region of 790-800 zone. Hence, stock is likely to hold above INR 600 on any weakness and extend it's gains towards INR 790-800 in the coming weeks. A sustained closed below 600 will negate this structure and force us to evaluate other possibilities.
NSE:SBINLong
by TradingSutra
SBIN WEEKLY GANN LEVELS ANALYSIS 13/01/2024For any analysis of markets you should follow Top to Down Analysis. This means from higher time frame to lower time frame. For short term trader to scalper it will be prudent to start from weekly time frame to lower time frame to your trading time frame. Gann used weekly charts for analysis and said weekly is the most important timeframe to watch. Swing trading was prevalent in his time so the use of weekly charts. BTrend change can e identified easily on weekly high and weekly lows breach or breakouts. Trading within the estalished range is the safest way to trade. This is called trading the range. Now there are three methods in Gann Trading Systems from where you can calculate future resistance levels. One is the low, Second is the high and Third is the range. We use the range commonly as the market price is within the significant trading range. Let us come to SBIN weekly chart. We use the Covid Higha and Low range as a significant range for analysis. High was 373.80 and Low was 150.85. Using this as our 100% range we derive the desired resistance and support levels within this 100% range. We expand on upside and downside as per the price action observed out of the range. SBIN has expanded on the upside above 100% range which is seen on chart as 0 to 1. Next expansion will be 1 to 2, 2 to 3 and so on. Current Price is between 2.125 and 2.25 level on chart which means 2 to 3 range. Most important level in this range is 50% of the range which is 2.5 on the chart. Price at 2.5 level on chart is 710.30 which can act as a big resitance in future. Strength of the trend will enhance aove this level. Now below 2.5 next important is 2.33 level of 672.85 on chart. Below it 2.25 level on chart is 654.25. The high on SBIN is at 660.40. We need to close above this level on weekly chart and stay above this level for the trend to continue upwards. Also support at 2.25 level of 626.20 needs to be maintained by SBIN. Current weekly close is 633.60 above the 2.25 level of 626.20. 613 is another level to watch on closing basis on the downside for short term traders and 672 is resistance for short term traders. In Gann we do not use indicators for confirmation as Price is the main indicator but Time is the most important indicator. We will learn about Time Analysis in future updates. Happy Trading !!!
NSE:SBIN
by kbr9121965
SBIN Swing for 30 days**Technical Analysis for State Bank of India (SBIN):** **Stock Symbol:** SBIN **Timeframe:** 1-Day (1D) **Pattern:** Bullish Pennant **Entry Condition:** If the 1-day candle closes above ₹653. **Stop Loss:** Set a stop-loss at ₹631 to manage potential risks. **Target Prices:** 1. First Target: ₹700 2. Second Target: ₹720 **Trade Duration:** Short-term swing trade with an expected target completion within a month. **Disclaimer:** The provided analysis is based on technical indicators and patterns observed in the market. Trading in stocks involves risks, and past performance is not indicative of future results. It is important to conduct thorough research, consider your risk tolerance, and consult with a financial advisor before making any investment decisions. The mentioned entry and exit points are suggestions and not guaranteed outcomes. The market is subject to change, and unforeseen events may impact stock prices. The user is solely responsible for their investment decisions.
NSE:SBINLong
by hunterhunt777
SBI: A Bullish TriangleUsually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept at the point of completion of wave-e (conservative approach) or to the breakout level of wave-d to get the target of this pattern (aggressive approach). Trading strategy: Buy on CMP 642, add on dips, keeping the SL of 627 look for the target of 660/680-85
NSE:SBINLong
by TradingSutra