SBKFF trade ideas
State Bank of India ( Neowave Forecast)Hi Everyone
This is our final chart of SBI which consist 10 percentage weightage of Bank NIfty. Already posted HDFC bank and ICICI bank (both consist 60 percentage weightage)
With this you will have proper understanding of current and future directions of banknifty. I will update further when the times come, till than happy hunting.
Thank You.
SBIN Looks Bullish SBIN looks Bullish if it break resistance of 597 then probably it will test 615,620 level, but due to any other circumstances if its break 584-582 level then we can see downmove and it will test 565,560 and 550 level so wait for mention level.
Hedge Strategy
Buy SBIN 600 PE Near 13, SL 10, and Buy SBIN future above 601, Stop Loss 591, target 610,615,620 Investment Required 45000
Maximum Loss 8500
Profit upto 20000
SBINSBIN:- Head and shoulders pattern forming on the hourly time frame
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
SBIN 29th JUNE-1x 29JUN2023 600CE - ₹ 3.65
+1x 29JUN2023 620CE - ₹ 1.15
Prob. of Profit- 81.88%
Max. Profit-₹ +3,750(7.34%)
Required Margin -- ₹ +51,084
PCR-0.60
At the 600 strike level, 14,580,000 of OI which is the highest CALL selling
There was a 2,499,000 OI change.
577 is a crucial level for SBIN, but as the candles are getting smaller in size 1Hr time frame, this could be a sign of trend change, but still, the sellers are in charge.