Seeing a head & Shoulders pattern in SBIN on daily and Hourly charts. Neck line comes around 190. Once this is broken we can see an accelerated fall till 180 levels.
STATE BANK OF INDIA HAS SEEN REVERSAL FROM THE RESISTANCE LINE THRICE IN LAST 3 MONTHS.
STOCK IS AGAIN APPROACHING ITS RESISTANCE. LETS SEE WHETHER SBIN IS ABLE TO BREAKOUT THIS TIME ABOVE THE RESISTANCE.
INITIATE BUY POSITION IF STOCK BREAKS OUT ABOVE ITS RESISTANCE TREND LINE.
Check the resistance and Support trend lines of SBI. SBI reversed from its resistance and now at support. We can take a trade here with a view that SBI will again respect its support trend line. Buy with SL of 188.
Sharing analysis of today's trading Session for NSE Nifty 50.
Today’s trading action can be seen in 3 parts, First Consolidation at higher Levels, then a steep fall and lastly some recovery. Today Nifty opened with a Gap-up of 50 points and traded in a narrow 50 points range of 11310 to 11360 till 12:25 PM. Nifty did not trade below its previous day close till...
Trade with caution in Tata Steel. Tata Steel is trading with a Bullish Bias in short therm but at current levels it is trading just below its long term resistance. You can see in the weekly chart, i have drawn a trend line connecting swing high's of 2018 and 2020. In last 3 years Tata Steel have never violated this trend line. Today, Tata Steel is trading near...
TCS has been trading in an upward moving channel since March 2020. The stock has taken multiple supports near the lower trend line of theis channel. Currently stock is trading near lower range of this channel and we can expect a bounce back from here. Long Position can be initiated in TCS for targets of 2270/2300/2325 with SL of 2190.
Bajaj Auto CMP 2990 has been trading in an excellent up trend since Mar 2020. However, recently the stocks has broken the trend line and trading below it. Still not very far from the trend line. The stock might be entering into a consolidation phase. Volumes are quite low which indicates that so far breakdown has not happened.
ICICI BANK Stock has been moving in a range of 340 & 380. 340 levels have emerged as a strong support and 380/390 as a strong resistance. Within the range the stock is trading with a positive bias. Fresh Long positions can be initiated with small SL at 348 for target of 370 and 380.
