Stock has given a breakout from down trend.
At Gap Resistance.
Small Dips to 370 can be bought
SL around 364
Staying above 373 can move towards 380/387
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...
SALE LEVEL @ 228 FOR TGT 223
WITH STOP 234
228 - BCOZ THAT IS WHERE THE NECKLINE OF HEAD & SHOULDER PATTERN WILL BE BROKEN
NO OTHER PARAMETERS ATTACHED.
disclaimer - study own n enter.
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...
Fresh weakness only if stays below support zone
Bounce to resistance can be used for shorting if market is weak.
Bullish view only if sustains above 196
SBIN is trading towards its trendline and if it breaks and sustains above RS.200 then it will be a good opportunity for a fresh buy. One can go long in SBIN Sep Fut with stop loss of 195.30.
