Sbi on daily chart looks good and its taking support near 291-293 can be a buy on dips near to support level with the given stoploss on closing basis.
Dont take any new entry in SBIN if you bought already then must use Stop loss 225. if cames any good news for banking sector then you can some good movement otherwise Trend is Bearish . Banking sector is not Right Time For investment wait some Years. SBIN Very Good Opportunity Between 140-150. Stay Tuned.......!! Learn Here , Earn EveryWhere
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.
We got bullish cypher pattern here, so I'm expecting completion of CD move, it may happen today or tomorrow, we cant predict that with 100% confidence. But one thing we can say, if price comes to our entry zone I will enter long in SBI with cypher as reason but only after the pattern completion. Hit Like button to keep me motivated to post more ideas...Thanks for...
SBI is range bound for the last three weeks between 222 to 235. Any breakout on either side would be fast and furious. Trendline support is at around 220 and 21 Day simple moving average is at 226. Taking into consideration some positive bias, one can keep stop loss at 219 and maintain the long position for a short term target of 242 and medium term target of 255.
Note : Unless some macroeconomic news affects banking sector, SBI has good potential to move up in coming weeks as most of loans written off & market has adjusted to that. But Jun 14-16 with Fed meetings markets can react , Feds always do what they think right not what needs to be done. The zone marked above has been tested 4 times, so I am expecting it will be...