SHOWING A PATTERN ALIKE CUP & HANDLE.Cup and Handle provides a double top resistance also. This time most likely to break the resistance. Indicaters like RSI and MACD providing an uptrend signals. Hence can be good call.
SBIN trade ideas
SBIN is about to break All time high (Previous) SBIN is about to break All time high (Previous)
if it breaks 472 level with good volume, we can expect 500-520 level this month
SBI- Cup and HandleSBIN forming cup and handle pattern. Volumes are better as well. RS is +ve and RSI above 60.
Can be a good swing trade for 15-20%.
Levels for - 04 Oct 2021EXPLANATION : This is a 30 Min time frame chart of SBIN , It has been in a consolidate for days and has formed an Ascending Triangle Pattern . If give a strong breakout and broke its supply zone with high volumes and retest the same , I am bullish on SBIN . If stock break the trend line we plan to short , downside levels marked in chart .
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SBIN LEVELS IN DAILY475 above closed at D candle ...SBIN will fly Targets 550-600 ,bcz its travelling in clear trend line
SBI TRADING IDEArange bound between 450 to 455 levels in 30 min chart. sustaining above 450 DCB expect 465,470 level.sustaining below 450 DCB we expect 440,435 level
SBIN: Chart set up and trading strategy for October monthSBIN
Observations:
- we see SBIN trading in a channel since 17 May
- if the blue line is taken out SBIN may fall up to 419-406 zone
- on the flip side, 467-472 has seen increase in supply in recent times
- if this zone is taken out, there is a potential for a rise up to 512 odd levels
- however it may encounter some resistance around channel top
- channel top on 28 Oct comes around 488
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Given the set up one may consider selling SBIN 28 October 2021 expiry
510 Call Option currently around 9 &
420 Put option currently around 4.2
(Max profit potential of 9.5% approximately.
The strategy covers risk for a rise in SBIN price up to 523.2 on the upside and fall in price up to 396.80 on the downside)
Any close in between these levels on 28 October and the strategy would be profitable)
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Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- 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
Short at 472 with 6Rs SL Looks Like Inverted Cup and Handle again Retest and Breakdown Kind of Scenario.
SBIN - Moving in ascending triangleSBIN seems good "buy on the dip" opportunity. It has been forming the ascending triangle pattern.
@johntradingwick
-NSE Certified Technical Analyst
-NSE Certified Fundamental Analyst
Disclaimer : This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
SBI AnalysisNSE:SBIN
Stock is in an uptrend and from 2020 May RSI never came below 30 which shows stock strength.
As per my analysis, If you wish to sell do it if the stock crosses the trend line, in the case of buying buy above supply zone.
Do your own analysis before proceeding, It's for educational purposes only.
sbi ready for a breakout? thoughts? i am fairly new to assessing patterns so waned inputs if these seems like a good point to go long.
SBIN long term target 550 in up coming monthsSbin monthly time frame is broked its multi year resistance & keep sustaining in that level.. we has the potential of moving towards 550.
SBINcup and handle in the fromation
close to all time high
forming a classic pattern lets see how it moves
SBI - To Beat All Private Banks ???SBI looking good above 470.
If it sustains 470 SBI can easily climb 530.
Positional Trade setup
Market Analysis of 29th September 2021 and Trade RecommendationsViews On Nifty & Bank Nifty: Market Indices opened low taking cues from global markets. However, market participants returned to buy and took the market up. Despite this market closed in the RED.
Data Analysis: As observed today DIIs bought heavily in cash market while FIIs were net sellers. As Informed yesterday FIIs are creating more short positions as compared to long positions in Index Futures. Though the changes in Index calls and puts are nominal. I believe today’s up move will be short lived and tomorrow may close below 17500.
India VIX is high.US and European markets are in deep red. Check Asian markets in the morning.
Nifty PCR: 0.789
BN PCR: 0.8902
Trade Recommendations for 27th Sep – 1st Oct 2021:
1. Ashok Leyland (129.35): Bullish. One can go Long and stay if RSI > 60.
2. Bank Of Baroda (81.70): Bullish. One can go Long and stay if RSI > 60.
3. BHEL (62.80): Bullish. One can go Long and stay if RSI > 60.
4. Can Bank (168.15): Bullish. One can go Long and stay if RSI > 60.
5. Gail (156.30): Bullish. Expect correction. Buy on Dip.
6. National Alum (94.40): Bullish. One can go Long and stay if RSI > 60.
7. SBI Bank (460): Bullish. One can go Long and stay if RSI > 60.
SBIN without bothering about its index.going ahead and fulfilling its targets.
it is moving opposite to bank nifty.
touches the upper line of the channel.
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SBI future levelNext Target of SBI is 500.
Supporst and resistence level have explained well,
please suggest, if you have a second thought.
