Observations:: SBIN
--->> Price is trading in a channel...
if we see the difference between the HH is decreasing gradually...
which is a sign of reversal in this stock...
clearly price created a gapdown as well, indicating a bearish sign....
we are clearly in an uptrend, price tries to go upside from 570-555 range,
but that not move too much..only 20-30 points we...
Observations::
This is a continuation post to my previous post about SBIN::
Consolidation Happens between the demand zone and supply zones. Price restriction is happens between the zones.
While breaking the previous demand zone, price leaves a supply zone @586-590 range,
if price wants to test this supply zone and falls below or continue to fall down.
A...
Nifty fin had formed a 100 points range from 19400 to 19300.
The sustained breakout on the either side can give a 100 to 150 points momentum.
But as market is in bullish zone, we will try to go 100% on the buying side and 25-30% on the selling side.
market has created a very narrow range inside the blue trendlines.
breakout is expected on the upside.
Have a big...
----->> after strong fall from 588-590 range, price again coming back to supply zone with consolidation to upside,
if failed to create a new high and falls below 575 range then sell for the target of 565 range.
the demand zone @ 575 range acts as support and the demand zone created at 582 becomes resistance, hence price is in consolidation.
if price consolidation...
----->> after strong fall from 588-590 range, price again coming back to supply zone with consolidation to upside, if failed to create a new high and falls below 575 range then sell for the target of 565,555 range.
keep track of these levels.
Observations::
the stock is trending upwards.
------>>Today SBIN is showing Bearish pressure.
-------->>Bearishness is continue or Reversal May Happen at 570 levels.
---------->>Previously A strong selling pressure is observed at 570 level ,look at the reaction at these levels to go upside or downside.
---------->>Previous Resistance if turned as Support again,...
SBI is now at its major resistance. We can expect a little downside from here to form a Cup and handle pattern. And it will boost itself to the upper side. As its technicals are very good at the moment.
SBIN Prediction: The market is at important support. The market is very unlikely to go down from here.
The prediction is sidewise or up.
Good for swing traders with 3-6 months of lookout and SIP
This is conditional buy view on NSE:SBIN . If 45min candle closed above 515, we can make a entry with stop loss of 507. My expected upside target will be 528.00. It would be positional trade for 1-2 days.
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
Four sectors that are outperforming NSE:NIFTY
{A} NSE:BANKNIFTY Though not by big margin definitely out performing NSE:NIFTY . Break above 42000 will be a great sign.
Stocks to watch out; 1) NSE:CANBK 2) NSE:ICICIBANK 3) NSE:INDUSINDBK 4) NSE:SBIN
{B} PSU Bank . 1) NSE:CANBK 2) NSE:SBIN 3) NSE:BANKBARODA
{C} NSE:CNXINFRA got a big push at...
