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...
The price is taking support of the inclined red color trend line. The price is been fluctuating within the parallel area. I believe the price might go to Rs. 263 before testing the water.
But the MACD is about to enter to -ve zone. So someone might have to wait for some time before entering into this.
NSE:SBIN looks bullish on 15 min chart with ichimoku cloud showing bullish breakout. RSI looks to be trending bullish. Initial immediate targets looks 192.10/194.55 with immediate Stoploss of 187.25 for risky traders or for brave traders 186.30/185.25.
For swing traders first target is 202.50 and then with trailing stoploss till 210-215.
If you are interested...
In the previous post we talked about sbi heading towards 140 levels and its almost near those levels.
Now 143-140 is an important zone for the stock, if this zone doesn't take the price up, chances are stock is getting ready to take a deep dive again.
Investor stay away from the stock, its not a cheap bargain yet and let the stock settle and make its way.