SBIN : Upar jaane ka raasta 2.0

Levels on chart.
Long above 189.8 for 196 with SL at 186.5

Observe Stochastic levels with previous rebounds for confidence
Keep a track on Bank Nifty levels - refer linked idea (1.0) for correlations

Comment:

Key BN resistance levels are 22100 ( initiate long) , 22350 (expect profit booking if BN doesn’t breach this, book intraday profits) & 22500 ( target reached but stay in for more upward movements).

Trade active:

Buy triggered

Comment:

If BN doesn’t breach 22500, will book profits

Trade closed: target reached:

Exited at 192

Comment:

Bank nifty has a gap to fill so there is a good chance bank nifty can retrace to 22,000 so exit positions now and I will look to re-enter when Bank nifty Is under 22k

Comment:

200 this week - may be even tomorrow ! Buy above 196 with SL at 194