sbinsbin a doji formation on daily chart on retracement entry at cmp with good R:R ratio stop at 420 for target of 500++
SBIN trade ideas
SBIN gathering powerSBI gave a good move on 16 September. It was muted by the china reality crisis and global cue. Now it is gathering up the fuel to move again, this time it can be huge as the government have made resolution plans for this NPA filled PSU banks.
📈 Pre-open MTF #PriceAction Analysis by #KRMG (21 Sep)👉 Stock 2- #SBIN
👉 Sector - Bank
👨🏻🏫 Analysis Timeframes - Hourly and 15 min (Intra)
🎯 Commentary - It has strongly fallen nearly from 468 level which was its ALL TIME HIGH as per hourly timeframe and now it is trading below to its important Support of 443 level
Yesterday on its way to downtrend it got strong rejections from PDL Level and continued the downtrend till day end
It has space till 430 on downside if it sustains below CZ, and may even reach near 425 level if convincingly closed below 435
🎯 Coming to sectoral pattern - #NiftyBank is trying to sustain its ALL TIME HIGH Level
#KRMGPriceAction
#LearnWithKRMG
“Consolidation Range” Breakout On the weekly chart, the stock has
witnessed “Consolidation Range”
breakout at 450 levels on a closing
basis along with rising volumes.
• The stock continue to form a series of
higher Tops and higher Bottoms which
signals strong up trend across all the
time frames
20 September, 2021
• The stock is well placed above its 20-
weeks SMA which reconfirms upside
momentum
• The weekly Bollinger Band buy signal
also reconfirmed rising momentum
• The daily and weekly strength indicator
RSI is in bullish mode along with
positive crossover which supports
rising strength.
• The above analysis indicate an upside
of 490-507 levels
STATE BANK OF INDIA IS IN TIGHT CONSILADATION (ANALYSIS OF SBIN)A breakout from a consolidation pattern signals a victory by either buyers or sellers over the other. Standard breakout trading techniques include buying long and covering short when prices break through the resistance level , or selling short and covering long when prices drop below support. More conservative traders look for some confirmation before entering these trades, either through analytical tools or continued price action.
Consolidation Strategies
It is common for a support level to become the new resistance point after a bearish breakout and for a resistance level to form support after a bullish breakout. Sometimes consolidations show triangle or pennant patterns, making it possible to execute continuation strategies.
Before determining how to trade a consolidation, identify how long the pattern has held. There are no appreciable time restraints on a consolidation. Intraday consolidation can last for only a few minutes or hours. If you look for active intraday trading, consult technical analysis software for dynamic information updates. Some consolidation patterns last for days, weeks, or even months or years. These patterns are susceptible to false breakouts, making it important to seek confirmation of prices before looking to capitalize on a trend.
Countertraders and contrarians can still trade on narrowly consolidated stocks, but there is often less room for profit due to the small range.
SBIN 15 SEP 21 TRADE PLAN OUTCOME
Closed
Be Proactive Trader
Better Insight, Better Trade Execution
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk. ''I HAVE A RIGHT TO BE WRONG''
"Always Respect Risk"
Happy Trading
Jai Hind
SBI shorting trendTake entry only below 450 as it is important support level and also supported by 0.5 Fib Levels
Target 445, 440
NSE:SBIN
SBIN: Potential Channel tradeSBIN
- there was a big positive announcement for PSU Banks yesterday evening by Finance Minister
- On charts, we see SBIN trading near channel top levels
given the set up, one may consider a Bear Call Spread strategy
Sell 480 Call option currently around 8.6
Buy 510 Call option currently around 3.5
Net receivables in strategy Rs 7650/- per lot (yield potential of 11.5% on Margin requirement till 30 Sept expiry)
More importantly the strategy has inbuilt loss protection for a rise in stock price up to 485.10 on 30 Sept
Take care & safe trading...!!!
📈 Pre-open MTF #PriceAction Analysis by #KRMG (17 Sep)👉 Stock 2- #SBIN
👉 Sector - Bank
👨🏻🏫 Analysis Timeframes - Hourly and 15 min (Intra)
🎯 Commentary - Currently it is in good Uptrend and now it is trading near to its ALL TIME HIGH Level as shown in Hourly timeframe
To continue the Uptrend it has to break the CRITICAL ZONE , and on Upside it didn't have any Obstacle but 500 Level which may be the another Target
🎯 Coming to sectoral pattern - #NiftyBank is currently in uptrend and now it is sustaining to its ALL TIME HIGH Level
#KRMGPriceAction
#LearnWithKRMG
SBIN with a BullSBIN chart spotted with bull head & Bull structure ready for a bull run......
A New Bullish structure pattern spotted ..........
buy SBI with 395 for target of 424/438Buy filled the gap of lower down nor RSI and and price movement indicate buy SBI with 395 for target of 424/438
#SBI trending up &could breakout from resistnce#statebankofindia #SBI Any Breakout from previous resistance of 464 for SBI and a green close about it could indicate good moves upside and may be the time for going for a long entry on this stock. trending on a parallel channel with Momentum and trend indicators indicating bullishness
on short ,medium and long term Channel breach or entry candle low at resistance breakout zone r Fib 23 could be swing trade stop loss.
if bank nifty index breakout from the all time high then SBI would also do same and trail stop loss if that happens.
Brekout Of 2 Months and Gave Closing....Bullish View Till 680.As we can it gave brekout to its 2 month previous closing and breakout with power so try too Accumulate ....
Buy Above - 668
Target - 670/675/680
SL - As per Own
Sbin achieved targetSbin 462 -As we have posted,sbin hold above 432 and has moved above our first target 450.
Rounding bottomBullish momentum with rounding bottom looks convincing this time will take stock to the 500 levels soon
SBIN TRADE PLANLevels as mentioned on the chart with probable Price Action to follow....
Be Proactive Trader
Better Insight, Better Trade Execution
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk. ''I HAVE A RIGHT TO BE WRONG''
"Always Respect Risk"
Happy Trading
Jai Hind
