SBIN trade ideas
SBIN buy given on 25 jan hold for 640, 665 , 710 Target On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
#Sbin cash : Looks good above 625 and 635 levels#SBIN Cash
28.01.2024
Buy 50% above 625 and 50% above 635
Stoploss 600
Tgt 685-690/730
Cmp 613
SBIN Point and Figure AnalysisSBIN point and Figure analysis for educational purpose only. The first target was achieved. The second target of 655 is still active.
SBIN ShortState Bank of India (SBIN), Broke the support of a trend line. A retest will confirm the bearish moment. Keep Watching it for short term bearish moment.
SBI ready for upside move we get huge profit on sell trade On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
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.
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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.
stock at crucial supportMany stocks have this set up ,where the stock is back to the previous highs which is now acting as support. Here the 609 is the crucial support. The lows made has heavy volume on the intraday charts. A stock generally doesn't bottom on high volume. Hence we will have to watch the 609 zone. A close below that will open the room for a bigger correction and a fresh sell should be initiated.
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.
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.
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.
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.
