Analysis of intraday stock (22/Nov/2024) Analysis of intraday stock (22/Nov/2024)
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Trade ideas
SBIN : Rounding Bottom PatternRounding Bottom Pattern
Attractive risk reward ratio .
Long with Stoploss below 780, Target 900
SBIN in recoveryAfter a fall of almost 140 points, SBIN is holding support and is back to recovery more.
Target upside: 849, 858, 912
Support zone 772-765 which will also work as stop order.
SBI cmp 847.65 by Daily Chart viewSBI cmp 847.65 by Daily Chart view
- Support Zone 834 to 841 Price Band
- Support at 814 > 781 > 751 with Resistance at 868 > 883 > ATH 912
- Stock Price is testing and Retesting the Support Zone over the past week
- Volumes seem steady showing intermittent spikes by demand based buying
Breakout on SBIN ??? REsult play around 835-840 levels A long trade in SBIN can be initiated in range 835-840 with sl around 812-816 levels for target of 872+++ 889+++ 910+++ and so on within 10 days just for result maintain proper sl
State Bank of India for 40% gainsDate: 4 Nov’24
Symbol: SBIN
Timeframe: Weekly
SBI seems to be in Wave IV of 3 which could likely come down towards 750-740 levels. As seen in the chart, Wave V of 3 could then move up towards 1050 (~40% from where Wave IV ends).
Banks have been largely consolidating in this market fall and could lead the next rally up. Please note nothing in the market is a given. Be very watchful.
This is not a trade recommendation. Please do your own analysis. And I have the right to be wrong.
HINGLISH VERSION
Aisa lagta hai ki SBI 3 ki Wave IV mein hai jo lagbhag 750-740 ke star par samaapt ho sakti hai. Jaisa ki chart mein dikh raha hai, 3 ki Wave V phir 1050 ki taraf badh sakti hai (jahaan Wave IV samaapt hoti hai vahaan se ~40%).
Bazaar ki is giraavat mein Banking shares bade paimaane par majaboot hi rahe hain aur agli teji ka netritva kar sakte hain. Kripya dhyaan den ki bazaar mein kuch bhi pakka nahin hota. Hamesha satark rahein.
Yah koi trade lene ki salah nahin hai. Kripya apana vishleshan khud karen. Aur mujhe galat hone ka adhikaar hai.
SBIN - Bullish Flag Chart PatternState Bank of India is forming high tight bullish flag chart pattern.
Happy Diwali to all of you.
STATE BANK OF INDIA by KRS Charts18th September 2024 / 11:11 AM
Why SBIN ❓
1. All Time Bullish Stock with Strong Fundamentals. 👌
2. Once a Resistance Now look like will worked as a Support . ✅
3. Further, Retested and made Bullish Hammer on support 🤩
Simple Bottom wick of Hammer will be SL on 1D TF closing basis 765 Rs.
Target is ATH for Now 900+
SBIN ready to rocketInternational Business
The bank has a global footprint with a network of 233 branches/offices in 32 countries. It has presence in USA, Canada, Brazil, Russia, Germany, France, Turkey, Australia, Bangladesh, Nepal, Sri Lanka and other countries.
Presently, Overseas business accounts for 3% of total deposits and 13% of total advances.
Government Business
SBI has always been the banker of choice to the government of India and is the market leader in government business. It had turnover of ~52,50,000 lakh crores and commissions of ~3,700 crores from government business in FY20.
SBI: Basement Bound? The Bank’s Bargain Hunt Continues!🐻 SBI: Basement Bound? The Bank’s Bargain Hunt Continues! 🛒
SBI is currently trading at 773, but it’s eyeing the escalator down, with potential stops at 744, 714, 692, and if we really squint, 592! It’s as if SBI’s on a mission to explore every floor in the discount department. 📉
With a series of lower levels looming on the chart, we might be witnessing a full-fledged bargain hunt. SBI seems ready to give us all “generous” entry points — assuming you’re feeling brave enough to step in as it descends. After all, why settle for 773 when 592 might just be around the corner? 😅
If this trend keeps up, SBI could end up giving us Black Friday vibes well ahead of schedule! So, for the optimistic contrarians out there, stay vigilant for a bounce. But for now, it looks like this bear might still have a little more room to roam. 🐻
So, watch those levels carefully, folks — and keep your buy orders snugly below, just in case SBI’s “sale” has a few more markdowns in store! 🎢
Wish You Happy & safe trading
"Always Respect Risk"
Happy Trading
Jai Hind Jai Bharat
SBIN TARGET 890 STOP LOSS 783Script is weekly long term trend support taken in uptrend channel with bullish closing from support trend line and sustained above strong support of 783. Next short term target is 890
State Bank of India (SBIN) Analysis - October 19, 2024
📊 Overview:
• SBIN has shown a bullish momentum, closing at ₹820.40 (+1.15%) today with a notable trading volume of 11.705M.
• The stock is approaching key resistance levels marked at R1 (₹830) and R2 (₹850), indicating a possible breakout.
🔍 Indicators:
1. Moving Averages:
• The price is trading above the 50-day moving average (blue line).
• The recent cross of the short-term MA above the long-term MA indicates a possible continuation of the uptrend.
2. RSI :
• The RSI is currently at 68.16, approaching overbought territory but not yet signaling an immediate reversal. We may see further upside before a correction.
• Past bear signals indicated reversals around these levels, so keep an eye out for divergence in the coming sessions.
3. MACD :
• The MACD line (blue) has crossed above the signal line (orange), generating a bullish signal.
• Positive histogram bars suggest increasing bullish momentum, which could push the price higher toward resistance levels.
📈 Potential Targets:
• Immediate resistance levels: R1 at ₹830 and R2 at ₹850. A breakout above R2 may lead to a move toward ₹880 (R3 level).
• Support levels: ₹800 and ₹780 (S1 and S2), which can act as buffers if a pullback occurs.
💡 Conclusion:
SBIN shows bullish signs with a potential breakout if it can maintain momentum. Watch for a breakout at R1 and R2, and monitor RSI levels for any potential reversals. Consider key support zones for risk management.
Unlocking the Potential of SBI: A Technical AnalysisTechnical Analysis of State Bank of India (SBI)
Background:
State Bank of India (SBI) is India's largest public sector bank and a major player in the Indian banking industry.
Technical Analysis:
1. Moving Averages:
* 50-Day EMA: The 50-day EMA (blue line) is currently above the 200-day EMA, indicating a bullish trend.
* 200-Day EMA: The 200-day EMA (orange line) is also sloping upwards, further confirming the bullish trend.
2. Relative Strength Index (RSI):
* The RSI is currently around 50, suggesting a neutral sentiment. However, the recent upward momentum suggests that the RSI may move into overbought territory soon.
3. Bollinger Bands:
* The price is currently trading near the upper Bollinger Band, indicating a potential overbought condition. A pullback towards the middle band or the lower band could be a good buying opportunity.
4. MACD:
* The MACD line is above the signal line, indicating a bullish trend. The MACD histogram is also positive, suggesting that the bullish momentum is strong.
5. Volume:
* The volume has been increasing recently, suggesting strong buying interest.
6. Fibonacci Retracement:
* The recent price pullback has retraced to the 50% Fibonacci level. A break above the 61.8% Fibonacci level could signal a continuation of the uptrend.
7. Support and Resistance Levels:
* Support: The 800 level could act as a strong support level.
* Resistance: The 900 level could act as a strong resistance level.
Trading Strategy:
Buy:
* Wait for a pullback to the 50% or 61.8% Fibonacci level.
* Wait for a bullish crossover of the 50-day EMA above the 200-day EMA.
* Look for a bullish divergence between the price and the RSI.
Sell:
* Wait for a break below the 200-day EMA.
* Look for a bearish divergence between the price and the RSI.
Stop-Loss:
* Place a stop-loss below the nearest support level.
Take-Profit:
* Set a take-profit target at the nearest resistance level.
Additional Indicators:
* ADX (Average Directional Index): Measures the strength of the trend.
* CCI (Commodity Channel Index): Identifies overbought and oversold conditions.
* Stochastic Oscillator: Identifies momentum and potential reversals.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. It is essential to conduct your own research or consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
buy SBINit has given double bottom confirmation by closing above 808 in 4 hrs chart. we may see around 846/855 levels in coming days and also it will come to fill gap area. view negated below 807 levels.
SBI ConsolidationSBI has been in consolidation for a long time. Whenever the consolidation breaks up or down significant move can be expected.
The same consolidation happened prior to this as well.
Good Option strategies can be done in this area.
sbi looks good 814 815 levelsA long trade can be initiated in SBIN for target of 833++ 845++ 857++ levels with sl around 800-804 levels
Technical Analysis - Elliott Waves of SBINThis analysis is based on Elliott Wave theory and is for educational purposes only. It does not constitute financial advice.
Key Observations:
Ascending Diagonal Triangle: The price action appears to be forming an ascending diagonal triangle pattern, suggesting a potential bullish breakout.
Wave Structure: The current price movement could be interpreted as an impulse wave, with a strong possibility of a fifth wave extension.
Invalidation Level: The 732.00 level acts as a critical invalidation point. A break below this level would negate the bullish outlook.
Potential Target: A breakout above the triangle's upper boundary could lead to a significant price increase, with a potential projection around the 920.00 level and more
Overall Outlook:
The technical analysis based on Elliott Waves suggests a bullish bias for SBIN. However, it's essential to monitor the price action closely and be prepared to adjust the analysis if the market's behaviour deviates from the expected pattern.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
the trend is intactSBI CMP 799.75
Trendlines- this alteration of support becoming resistance and vise versa is an indication of a stock which is expanding. I mentioned this time and again that trendline acts like a timing tool. The stock is at the trendline and is all set to move north.
Fib- the 38.2% fib retracement is telling me the stock is in a strong bull trend.
RSI - Bouncing off from above the bull zone is telling the bull trend is intact.
Conclusion - the stock is all set to go north.
#SBIN Support & Resistance levels
#SBIN currently looks promising on the daily time frame, presenting an
opportunity to consider long positions around the current market price (CMP) of *793. The overall price structure is bullish, and one can anticipate potential upside levels towards *880 to ₹900. However, a bullish view would be invalidated if the price falls below *760.
Go long in STATE BANK OF INDIAIt's trendline breakout in SBI on daily frame. SBI has a important support level at 800. Above this we can see target of 821,841,860 in SBI very soon. So, plan your trade accordingly.
State Bank of India view for Intraday 28th September #SBINState Bank of India view for Intraday 28th September #SBIN
Buying may witness above 804
Support area 794. Below ignoring buying momentum for intraday
Selling may witness below 794
Resistance area 800-804Above ignoring selling momentum for intraday
Charts for Educational purposes only.
Please follow strict stop loss and risk reward if you follow the level.
Thanks,
State Bank of India view for Intraday 26th September #SBINState Bank of India view for Intraday 26th September #SBIN
Buying may witness above 796
Support area 783-785. Below ignoring buying momentum for intraday
Selling may witness below 783
Resistance area 790-795Above ignoring selling momentum for intraday
Charts for Educational purposes only.
Please follow strict stop loss and risk reward if you follow the level.
Thanks,
Demand supply trader # GTFSBIN
Weekly Income trade ( dated 23-09-2024)
Score : 7 ( 12/14)
1. Freshness : 3
2. Strength : 2
3. Time at the base : 2
4. Sector support : Yes
5. EMA 20 : 1 ( closed above ema 20)
6. Golden/Death crossover : no
7. Gaps : no
8. Candlesticks : 1
9. RSI divergence :1 (PRD at location and monthly too)
Other :
1. Top down approach : back from ATH
2. Trend suport at ITF : no
3. If 2nd no , then confirmation entry : yes pending
4. Aggressive / conservative : conservative
5. Krishna / bhishmaptamah location : yes
6. RR check : in favour( BUT itf sz not tested yet )
7. Best sz/dz execution : yes
8. Achievement of DZ/SZ : yes
9. selling / buying pressure : yes
10. Authenticity of Execution TF : yes
