-stock is looking to breakout of its rounding formation
-stock in futures is seeing good building and more over today it is sustaining above 541-543 zone
-since morning good oi building is seen
-please note for safe traders a daily close above 545 is your signal to go long
-risk traders can enter now and stay long
Beautifully following upward trending parallel channel. two possibilities occur here.
1. Might be keep trending like this and go till 585-600 levels
2. Come down till 490-500 levels then proceed towards 600 levels.
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...