SBI is currently moving under the control price and making a parallel channel. But because of the election, all the markets will get affected. Right now, it's trying to move upward to cross the control price (213).
If it crosses the control price, then it will touch the following levels 217.70 - 226.30. That means the control price will react as support the same as the previous it reacted.
But as I mentioned above, markets will get affected. There is a strong possibility of a reversal. If it takes a reversal, it will come down and hit the following levels 195.20 - 192.50. That means this time control price will react as the resistance.
If it crosses the control price, then it will touch the following levels 217.70 - 226.30. That means the control price will react as support the same as the previous it reacted.
But as I mentioned above, markets will get affected. There is a strong possibility of a reversal. If it takes a reversal, it will come down and hit the following levels 195.20 - 192.50. That means this time control price will react as the resistance.
Trade closed: target reached:
The first target of SBI has reached.