Technically on the daily charts we see major support on the downside @ 450 levels, whereas minor resistance on the upside is capped around 266 level
If breaches minor resistance on the upside and closes above it, we may see fresh breakout and State Bank of India can Lead towards higher levels around 475/501 levels in Short Term very quickly .
-SWING TRADE IS AVAIABLE IN SBIN
-ONE CAN LOOK TO TRADE IN SBIN
-INTRADAY TRADES CAN SHORT SBIN BELOW 365
-BUT NEEDS TO CLOSE BELOW 365 IN 30-MIN TIME FRAME
-STOPLOSS WE CAN BE DAYS HIGHS @370
-TARGET CAN BE SET BETWEEN 358-355-352
-A DAILY CLOSE BELOW 352 WILL TAKE THE STOCK TOWARDS 325-341
"FOR PREMIUM TRADES IN FUTURES AND OPTIONS INTRADAY"
SBIN is under consolidation since a month , so finally after waiting for such a long time it has come under bearish zone. There has been a huge Gap up of 30 points on 5th feb , so now it can fill that gap easily , one should wait for a profit of atleast 30 points .
successful is a person who holds his winning trade , new trader will cut the profit making trade...
State Bank of India at ₹100 ? This is a very real possibility if the elliottwave pattern on the long term SBI charts indicated above are right. As can be seen, the 2015 - mid 2019 overlapping but upward titled move can be charted to indicate a long term ending diagonal. The subsequent downmove is clearly impulsive and has now just completed the 4th wave upward...