Hi Guys,
As you can see from the charts that SBIN is just sitting on the support level, And kind of working on Triangle waves formation which can take a while. Generally, it breaks out in the direction of the previous trend which was an uptrend. Triangle formation basically shows a pause the trend when it completes the trend resumes in the same direction.
Price- ...
Guys SBIN Hourly idea keep watch...
Disclaimer:
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own ...
#SBIN at a crucuial inflexion point, confluence of multiple tops and bottoms. a good swing trade can emerge from here.specially looking for an upside swing failure
SBI price Has Been consolidation between 275-260 since last 12 days. It shows that price has been exhausted after 4 days rally. and it may shoot up more.I will wait for the given levels. keep Eye on SBI. If breaks the trend line then price can reach to 315-340 this expiry only.
Buying opportunity on State bank of india , Triangle pattrn brkout or if not brkout thn this pattern will extend it and couvert into reversal channel ......
1. Double top formation in progress
2. Wait for a bearish candle and enter at the low of that candle
3.Will update with profit and sl if bearish candle appears
So, the time has caught up with irrational exuberance on banking sector in India.
The ridiculous rally banknifty saw over last few months lacked any fundamental push as such.
Now it all seems to be unwinding. And this is going to be good!
In this chart we see State bank of India has broken the steep weekly channel quite significantly.
260 at least would be a ...
Technically SBI has broken Trend Lines and Supports, Volume is Increasing on Down Days, BankNifty is Looking Weak and There is also a possibility of a third wave... Targets Can be seen at 190..
