SBIN 1hour time frame swing trade Sbi make a ascending triangle and nearest breakout if breakout above 602 we take tAke a long position but breakout below 598 then we take a short trade
SBID trade ideas
SBIN case studyCounter is trading in ascending parallel channel structure, few days ago on result day counter gave a gap up opening and now counter have filled the gap,, now closing below 593 would lead to reversal confirmation,
so sustaining below 593 on closing basis and follow through would lead to levels of 579 and 551
going a head,,
if not able to close below small bounce can be seen..
keep watch on levels for this counter
Journey from 150 to 615 How it happenedSurpringly many of Market hypothesis works , but when it works its works in its own strange way
We have been Experiencing the Wave Theory hypothesis in our lives with Grate understanding and results
it does mean that we also experience Grate failure due to complexity of wave theory which i will Explain in another time
This stock we found interesting with grate amount of Negative sentiments when it fell to 150.20 ,
Majority of the time Market makes turnaround when there is bad News , and it did in this stock case also , Fundamentals ware bad and banking Indutry was in
grate risk of collapse ,
I also believe market makers use this kind of opportunity to accumulate the stocks only to Push in the direction of their intrest
I am attaching a chart of my previous post hope you will find it interesting and Knowledgeable
Good luck
long long longSBIN at ATH with wonderful volume support
results awaited
such scale up before results are tempting for more upmove in stocks
daily and weekly RSI above 65 which another + point
#onradar
disclaimer - trade @ own risk
SBINVery good sets of results.
The counter has been in uptrend from quite some time... almost from 525-528 levels.
Expecting profit booking at higher levels..
Have marked some trading levels....
585 being the make or break level.
Like.. Share... follow
SBINClear breakout visible on Weekly charts. Good results declared by company. Looks Bullish with strong momentum.
SBI Bullish OnsetSBI seems cup with handle breakout in daily
rally may continue further
concentrate if price sustain above 593 in 4hrs
[1H] SBIN is reducing their risk nowPrice reached their resistance area so...it will definitely moves down
Technical indicators clearly confirmed this setup.
SBIN looking Good and Bullish.SBIN looking Good and Bullish.
If it breaks 590 level and sustains then
we can look for this targets
600/620/640/660/680/700
In the coming sessions.
SBIN Quarterly Results came with Good Profits.
State Bank of India (SBIN) looks good based on chart formationSBI looks to step out of the consolidation zone after forming a double bottom pattern.
Will watch the levels of 473, which is the daily EMA. Once this level is crossed, expect some good momentum in this stock.
Always define your stop loss between 5-8% if your trade fails.
Do read my previous analysis on State Bank here..
State Bank of India BullishEarnings NEWS: State Bank of India reports the highest ever quarterly Net Profit of Rs 13,265 Cr (a growth of 74% YoY). Loans: 20% YoY growth, 4.6% QoQ growth!
Analysis: With Earnings backing the stock (beat on all estimates), I expect the stock to continue the momentum as the strongest PSU bank. Keep a stop loss at 570 and go long for the longer term.
no sign of weaknes in SBIN (corrected chart)Resubmitting chart with corrected XABCD pattern.
Now the point D marked should actually be acting as support.
My mistake in last chart was I wrote correct logics in description, but drawn wrong XABCD pattern on chart.
I repeat there is no sign of weakness in SBI.
I accept my mistake and I apologies for my mistake
"Gap down possible" - SBIN Hello everyone,
I am sharing SBIN chart on day time frame.
I am using harmonics pattern XABCD and connecting all recent swings, as marked on chart.
It is perfectly at Point D (596.85-596.95), with fib ratio 1.13.
Just for knowledge...in a XABCD pattern, D point is considered as Price Reversal Zone (PRZ).
And some fibo ratios is very very strong, in case of SBIN its 1.13.
Well let's see where it opens on Monday...only chance of upside is if it opens gap up (above point D) and sustain.
Else a slight gap down or even flat opening can lead to a sell off from this point.
Keep learning guys.
Have a nice weekend.
SBIN- GREAT BUYING OPPORTUNITYSBI has given a fresh consolidation breakout on the monthly scale with a strong bullish candle. Momentum has retested the breakout and started the fresh leg of upside which will provide strength towards 700.
Strategy- Buy at 584, add more on dips till 560 and hold with sl of 520 for 650-700 targets in a month or two.
SBIN looking Good and Bullish.SBIN looking Good and Bullish.
If it breaks 590 level and sustains then
we can look for this targets
600/620/640/660/680/700
In the coming sessions.
SBI has given an all time high closing with good increase in OISBI has broken its past one year range. Its a clean breakout on weekly & daily basis. 578 level has become a good support for an upside journey.
Multiple Divergence An RSI/MACD divergence occurs when price moves in the opposite direction of the RSI or MACD . Price want some rest time or price wise .
SBIN: Chart analysis, view and trading strategySBIN
We are looking at weekly chart of SBIN stock
Observations
- SBIN is yet to give a weekly closing above the Sept 12 - Sept 19 weekly high
- support at 554 / 545 / 530 zone
Given the set up
One can wait for SBIN to close and sustain above 579 on a weekly closing basis or for at least 3 days before taking for fresh long position
Otherwise 530-540 zone could be a better place to enter
Derivatives Strategy
One may consider a Bear Call Spread strategy in SBIN for November series
Sell 600 Call option
Buy 630 Call option
Net receivables 6 points
Lot size 1500
Max Profit Potential of Rs 9000 per strategy lot till 24 Nov 2022
Profit potential of 12.5% approximately on Margin requirement
Take care & safe trading...!!!
Like, follow, share for more trading ideas like these
Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Rounding Top patternHey everyone! 👋
Last week, we wrote about the "Rounding bottom" pattern. If you missed last week’s post, you can catch up here:
Today we are going to cover the "Rounding top" pattern along with a few examples.
Please remember this is an educational post to help all of our members better understand concepts used in trading or investing. This in no way promotes a particular style of trading!
The post will shed some light on the following topics:
➡ Basics and identification of the pattern
➡ Components
➡ Important aspects
What is a Rounding top pattern?
• A rounding bottom is a bearish reversal pattern that resembles the shape of the inverted "U".
• Rounding top pattern occur at the end of long uptrends and indicate a potential reversal.
• The pattern is also referred to as an inverted saucer due to its resemblance to an inverted saucer.
• Although, the volume and price move in sync but in practice, this can vary widely.
• When the price moves down from the neckline, it indicates weakness and suggests that the stock may begin a new downtrend.
Components of a Cup and Handle pattern:
A rounding bottom pattern can be divided into three main parts.
• Advance
• Formation of the base
• Decline
Important aspects:
1. Prior Trend: Since it is a bearish reversal pattern, the prior trend must be an uptrend. The top of a rounding bottom should ideally mark a new high or reaction high. The stock may trade sideways or flat for a long duration before the formation of the pattern.
2. Advance: The advance that leads to the formation of the high, can take a variety of forms. Sometimes, the up move has many whipsaws while other times, the stock may just trade flat.
3. High: In general, the pattern resembles an inverted "U" shaped top. However, it can also resemble an inverted "V" or an "M," but the high should not be too sharp. In addition to this, there is always a possibility of a new high due to a buying climax.
4. Decline: In general, the formation of the right half of the pattern should take about the same amount of time as the left half. This means that the down move of the highs should take about the same time as the up move. Moreover, the decline shouldn't be too sharp, or else there is a possibility of a bear trap.
5. Breakdown: The pattern is confirmed once the price breaks and sustains below the neckline. The price may return to the neckline to test for the supply before continuing downwards.
6. Volume: In general, the volume levels should be
- High during the up move
- Low during the formation of the base
- Rising during the down move
However, these are only guidelines and should not necessarily be taken at face value.
7. Target: Using the measurement objective, the target comes out to be equal to the depth of the base. It can be measured by calculating the distance between the bottom of the base and the neckline.
8. Stop-loss: Ideally, the stop loss is placed at the highest point of the base. But if the price oscillated up and down a number of times near the neckline, the stop-loss can also be placed above the most recent swing high.
Exhibit: Rounding top pattern with a failed breakout
Thanks for reading! As we mentioned before, this isn't trading advice, but rather information about a tool that many traders use. Hope this was helpful!
See you all next week. 🙂
– Team TradingView
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