The stock is trading near resistance area
Immediate resistance is placed at 545
Breaking above the resistance will give a breakout and next level to watch will be 600
However trading below 520 will trigger some selling pressure and 477 level can not be ruled out.
NSE:SBIN
Trade Setup for 18-04-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or...
The stock is following wave ABC pattern.
As long as recent low holds we can see a sharp up move.
Let it pull back and do retracement
then it will be a confirm reversal for 550.
All levels on the charts. SBI bank has just given a perfect breakout from cup with handle pattern. I am holding it from low levels. In long term it can touch 500 levels as well.
• SBI is approaching the resistance Level if it breaks with a bullish candle above The resistance then it will be a great area of value for Buy.
*If You like my idea Do like and comment*
*And also tell me if SBI is on your list to buy *
Now SBI Move to 5th Wave
if day candle close with target Zone 1. we can consider wave it end
incase day candle cross the target Zone 1, then move to Target 2.
![SBIN: Simple Trade Setup | SBIN | 18-04-2022 [INTRADAY]](https://s3.tradingview.com/f/fJ7LtrIa_mid.png "Simple Trade Setup | SBIN | 18-04-2022 [INTRADAY]")
