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SBKFF trade ideas

Evening star in SBIN, can it take stock lower?SBIN has given a fall of 7% in this week after forming a double top pattern. An evening star pattern has been formed on the weekly time frame and stock has closed below the 20 ema. After trading around the ATH stock has given a nice fall and in the last trading session too it has given 3% fall. Volume indicator also confirms the pattern as the volume of the red candle is higher than the doji candle formed previously. A short trade can be initiated in the stock once it starts trading below today's week low. The stock can test 550 levels so as there are high chances of froming lower lows lower highs. The stock may take a halt candle on the daily charts, as it has formed 4 red candle and is trading between both the moving averages. If the stock retest higher levels before giving another bearish leg, sell positions can be created once there is a negative candle formation near golden ratio of fibonacci series. Entry :- Below 571, On bearish candle around 600 levels. Targets :-555, 505 Stop losses should be created on 1:2 or 1:3 basis. Positional trades can be initiated in the stock as it may take time to test the levels. Next expiry future or options can be sold as August expiry option will take profit due to time decay. Wait for the price action near the levels before entering the market.
NSE:SBINShort
by TheMamboMomentum
SBIN: Kuch Kuch hogaHi, An inverted Head & Shoulder is visible on the daily chart of SBIN. One can look to create a fresh Position in the scrip. One can buy the scrip at around 596-600, SL@584 and Targets are 610/620/630 The risk to reward ratio is 1:2.5 Exit the position if the stop loss is triggered on DCB. DO YOU WANT ALL MY RESEARCH FOR FREE THEN DON'T FORGET TO FOLLOW ME. I AM EAGERLY WAITING FOR YOUR COMMENTS ON THE STUDY... Disclaimer: Content shared is for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before making any investments based on your own personal circumstances. Investment in securities are subject to market risks, please carry out your due diligence before investing. And last but not the least, past performance is not indicative of future returns.
NSE:SBINLong
by raigvivek
2