SBIN, Retest and Bounce BackSBIN stock has re entered the demand zone and bounce back sharply on daily candle, can expected a good move in coming trading days.
SID trade ideas
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 !!!
Budget playDo not panic dear investor, Jan serieis ending on 31 Jan 24 and 01 of Feb is Budget / Big day for traders, we are going to make stardel for Budget day, so wait for long and short positions in bank nifty and Nifty and some banking stockes that can give you great returns, 600 is strong level and Feb expiry ce options are cheap, will make money together, Jai Shri Ram.....
SBINcan look for buy set up in sbin
as its taking support near
previous resistance turned support now
from 625 for 650-660 targets with 617 as sl
for 8 points we may get 1:3 1:5 RR
SBIN long term ideaStill in uptrend after breaking out triangle in weekly chart and is forming flag in day chart. Have to wait for the decisive move to occur to enter. Being fundamentally strong, can give good move if breakout happens on the upside
State Bank Of India# State Bank Of India #
# SHORT TERM VIEW BEARISH #
# SELL - 665 : 670
This is not an investment advice and also please note this is only for education purpose.
So before investing any single rupee, please do your own research according to your risk taking capacity and after that do invest and book profits on right time.
SYMMETRICAL TRIANGLE IN SBIN!POINTS TO NOTE
1. Simple symmetrical triangle printed here.
2. Breakout is supported by Volume breakout as well. Target is the pattern height.
3. SBIN is a healthy uptrend in higher timeframes as well.
Disclaimer: Please do your own analysis before entering trades. And always enter SL first.
Break out expected.Sbi has been consolidating for last few days.
It appears it is its 4 th wave of his on going 3 rd wave.4 th wave appears to be a triangle.
very soon its break out likely to take place.
Along with sbi,hdfc bank too is consolidating.
stop loss should be the dashed line on closing basis.
This is not any trading recommendation ,only my study.
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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.
sbi breaked the trendline it will be down for a weeksbin breaks this weaks stong trendline its falls a lot and gives a good target hunting oppurtinity
its clearly showing
SBIN- Go with the trendSmall Time frame- 1 week
Buy around 641-646, keep SL 634 on closing basis.
Target- 665,670,675
*Note-For educational purposes only
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
SBIN IN A PERFECT TRIANGLE Stock - SBIN
PATTERN- TRIANGLE
looking bullish as making higher lows
RR is also good.
BULLISH FLAG in SBINthere was an buying oppurtunity on 5th dec and it gave has gave a fantastic move and now making an bullish flag. next week might give a bullish move in banking / Fin sector
Keep an eye on SBINcan give a break either side.
enter on re-test for small stoploss or use previous swing on 15 or 5 mins for intraday basis..
note: im not sebi registerd and this is my personal view
State Bank of IndiaClassical textbook triangle pattern forming in SBI.
With a target of 680
and stop at 634.95
SBI Multi Year Consolidation BreakoutSBI broke out of trading range from 2010 to 2021. Price consolidated at crucial fib level of 161.8% level and now price has formed belt and hold candle at 560 level. Next possible targets are 860-920 in coming year. Good dip to buy is at 560 level or add positions for long term.
an good positional,mid term candidate for long sideNOT AN TRADE OR INVESTMENT SIGNAL
sbin has been been trading in a range on a weekly time frame and levels of 615-630 acting as resistance,almost after an year good breakout and a kind of retest is done,looks good for an mid term with sl as per risk or on chart
SBIN == Ascending Triangle BreakoutAscending Triangle Breakout (levels are approximated)
Breakout level :- 620
Entry :- Above 650 on Daily Closing.
SL :- Low of the breakout candle (610)
Target :- 620+120= 740
SBINState bank of india showing bullish mode. Price moving inside the channel pattern. Broken 620 resistance. Price may retest 620 level. 700 is a Target.
SBI AnalysisSBI technical analysis for upto 1 month.
Here are the details-
CMP- 658
Stoploss- 620
Target- 680
Duration- upto 1 month.
Let me know what you think.
SBIN-My Muhurat Pick 2SBIN: Banknifty's kingpin seems to be at the right spot to go long.SBIN for a while has been hovering around 610-580.Seems the DEMA Crossover suggests its on its way to provide a range break out at 600.Sustaining at 600+ levels likely to take the stock towards 650-700 range in 6-12 months period is one of my fav pick.
(For educational purose on;y)
Happy Trading and would be glad to have your feedback &Cheers
State-Bank- H&S FailureStock has given a failure breakout of H&S pattern. This suggests that stock is likely to move higher towards 675 in the coming days. Buy on CMP, add on dips , keeping SL of 575, look for the tgt of 645/675
