This could go up for an impulse. Confirmation would be on UTL break. Nifty PSU Index is correcting as of now. Both could move up together.
We got bullish cypher pattern here, so I'm expecting completion of CD move, it may happen today or tomorrow, we cant predict that with 100% confidence. But one thing we can say, if price comes to our entry zone I will enter long in SBI with cypher as reason but only after the pattern completion. Hit Like button to keep me motivated to post more ideas...Thanks for...
SBI is range bound for the last three weeks between 222 to 235. Any breakout on either side would be fast and furious. Trendline support is at around 220 and 21 Day simple moving average is at 226. Taking into consideration some positive bias, one can keep stop loss at 219 and maintain the long position for a short term target of 242 and medium term target of 255.
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...
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 &...
Let's start with Britain's referendum polls. No one is sure what will be poll results, Its Neck to neck between BRemain & Brexit. What Nifty will do inline with poll results ? If Bremain happens - Nifty Gap Up ; If Brexit - Nifty Gap Down. Rare case : There is possibility of Nifty ignoring the result as India has some vested interest in both scenarios Coming...
SBIN hits long term downtrend line and consolidates. Risk to the downside if it doesnt crosses over . sell with 225 stop
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...
SBI short under todays high target lower channel support
Markets always has tendency to fill gap zones. If you draw fib extensions / retracements on previous few swings , every 1.618 extension ends up in our marked zone 1618 is more valid ratio & we can expect market to move up after reaching the zone. ABCD pattern completion also in same zone. This is 4h chart of SBIN so will take time to complete, just keep it...
Lets keep patterns, triangles and Wave theory aside for sometime. Lets keep it simple for State Bank of India , as you can clearly see simple trend continuation and we are planning to buy on the pull back completion. Some may feel that how can we be so sure ? Well, as per my rule book trend continuations with good risk :reward are valid enough. Please check...
Looking for a break out on either side to be long on the stock. Wait for the right time to trade this