Hi All, Its just couple of trendlines drawn over the highs & lows..nothing fancy here. SBIN is ranging for past few days so we are expecting breakout(expansion) soon, so whichever the direction breakout happens enter with proper stops. Being expiry day today it may give false breakout so be stingy about your stops.The same setup is forming in SBIN hourly...
SBIN formed double top. looking for 217.5 after breaking of 217.5 price level .we are short for price level of 150 at end of october
SBI forming a double bottom. MACD showing buy signals. Target 250
Hey Guys, Happy Monday.. Only we traders have the guts to say Happy Monday instead of Monday Blues :P So lets jump to our analysis and why I am planning for an counter trend trade in SBI. This is one of my favorite setups to trade, No matter what others say or think...I am deeply in love with counter Trend bcos it makes us analyze various reasons to enter trade &...
SBIN hits long term downtrend line and consolidates. Risk to the downside if it doesnt crosses over . sell with 225 stop
Pattern Invalid....... If trade above 230.
A good opportunity to short SBIN at current level - 215 with the stop loss of 230. Expected price 195 in coming days.
With Nifty being in overbought levels, we see SBI at the upper trendline. Although it broke to the upside, we see classic evening star formation at the upper trendline. I would be cautious if I'm long here. You might want to sell your position partially and wait for a pullback towards, T1 - 200 T2- 195 T3- 189 for short term.
Note : Unless some macroeconomic news affects banking sector, SBI has good potential to move up in coming weeks as most of loans written off & market has adjusted to that. But Jun 14-16 with Fed meetings markets can react , Feds always do what they think right not what needs to be done. The zone marked above has been tested 4 times, so I am expecting it will be...