SBKFF trade ideas
Swing Trade Setup for SBIN -Fasp Levels
The FASP for SBIN is listed for 11-1-2023 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
GO LONG ON SBINThis is swing trade
The has reached to a important level according fib retracement
The stock can futher can go down in worst case scenario upto 575 whnen banknifty will take support from 42000 or test the levels .
fib rectrament is at .618 which is golden ratio the target will be 660 which is next ratio
This is for educational purpose
SBIN : +4% Upside PotentialSBIN 13 Dec 2022
Stock is in a consolidation zone for the past week, likely BO from 619-620
Summary
CMP 615.80
A week of consolidation
Price compressed
Nice Big Bull candle at closing
Conclusion
Trade can be initiated for 1:3 Reward with stop below 609
Potential Swing Target 630/640/645
Wish You Happy & safe trading
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
"Always Respect Risk"
Happy Trading
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