SBIN - Momentum tradeWith most banks producing good results.SBI could produce a super result too..
Long above 543. Keep a stoploss below 520. If there is a results day pop that too could be sold into strength.
Play this for momentum for now considering the markets are volatile.
Note: SBIN was one of the best performing stocks of Jan 2022. Closed at the months high vs correction across the board.
SBKFF trade ideas
SBINThis stock is showing good strength impulsive move towards north direction, we have witnessed breakout with good intensity of volume, wave counts are also suggesting same along with trend indicators.
breakout with good intensity of volume
wave structure could be like this
macd in weekly
macd in daily
rsi in daily
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult your Financial advisor before trading or investing
SBIN - Fibonacci Levels - ATHNSE:SBIN is nearing to all time high 543.
It reached the previous All Time High (ATH) resistance zone and trendline resistance level.
On Jan 28th it showed the rejection from top with good bearish candle and Jan 31st it forms a good bullish candle.
Based on the market direction take the trade.
#SBIIN#SBIN
CMP 523.45
Harmonic Pattern
Disclaimer : We are not Sebi registered analyst or Authorized analyst
The charts / Levels / Price projections are only for educational purpose.
This is our personal view, Pls consult your financial advisor before taking decision - Buy / Sell
We will be not responsible for your profit and Loss
SBIN AnalysisThe chart of the State Bank of India is making higher highs and higher lows for a year now and recently we can observe an inverted head and shoulders pattern, yet closing above Rs 537.55 with good volumes will give a potential buy chance for swing position. Recently we have seen a rally in PSU banks like CAN Bank, BOB Bank, PNB Bank thus this also becomes a potential buy situation. This information is for learning purposes, do share your thoughts.
Perfect Cup & Handle pattern formation on SBIIt's a perfect cup & handle formation as per William O'Neil's definition.
Here I have taken a weekly chart and tried to simplify the formation. The explanations are marked in the chart.
Also, keep in mind the overall trend of the stock, here it should be in upward trend :-)
Ideal buy point is near the handle pivot.
Always keep a strict stop loss of 5-8%.
For educational purpose and learning
2022 BUDGET RunnerThe past two years have been no less than a roller coaster ride for many industries. The banking industry is considered as backbone of any economy. The asset quality and profitability of banks are mostly impacted by the pandemic. However, enhanced spending on infrastructure, speedy implementation of projects, improved access to banking system, etc. are expected to provide impetus to growth in the banking sector.