It is making a morning star pattern and taking the support of 50 week moving average. Looks good for a short term buy, especially when the government is planning to speed up bad bank process, also the previous quarterly results were good and the stock didn't make any wild move yet.
This has been my fav stock in the PSU banks space.
Chart looks great on both Weekly and Daily charts. At a very critical stage right now and at resistance zone. Nice strong candle for closing and firmly up at the resistance zone, but RSI on both Weekly and Daily charts bullish and no where near overbought zones.
200 daily MA below should be strong support and...
Taking support from 30min 44sma
at bottom of triangle /trendline
Bank nifty seesms breaking out
SBIN is in uptrend
15min RSI taken multiple support at 40
SNIPER STRATEGY
This magical strategy works like a clock on almost any charts
Although I have to say it can’t predict pullbacks, so I do not suggest this strategy for leverage trading.
It will not give you the whole wave like any other strategy out there but it will give you huge part of the wave.
The best timeframe for this strategy is Daily, Weekly and Monthly...
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 was in consolidation phase since may 2021,
and it has seen a complex correction in wave 2, in day before yesterday it has seen a minor recovery after testing the lower bollinger towards upper bollinger band, and finally in yesterday's trading session, it broke out from the consolidation and it has also broke the high of wave 1, with daily Macd turned...
• 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.
