SBI 13/01/2021 updated after 1St TP achieved
Updated
Hi
this analyze is base on my preview video analyze of the same ticker
as we can see our first target was 300 to 310 Rs which we had achieved and now we are crossing the 161.8% fib projection which is also called as extension zone in Fibonacci jargon and it gets interpreted that once we touch this zoon after crossing the 127% of the same fib, then we can expect the trend to reach the 261.8% of the same fib projection which I have specified with the TP Zone Box (350Rs)
we may have a renege and consolidation period as we are breaking trough a tough resistance zone which i have specified with the red box.
or a little bit correction to 127% of fib but the ultimate target is to cross the resistance zone and hitting our target price of 350Rs
please comment your opinions
this analyze is base on my preview video analyze of the same ticker
as we can see our first target was 300 to 310 Rs which we had achieved and now we are crossing the 161.8% fib projection which is also called as extension zone in Fibonacci jargon and it gets interpreted that once we touch this zoon after crossing the 127% of the same fib, then we can expect the trend to reach the 261.8% of the same fib projection which I have specified with the TP Zone Box (350Rs)
we may have a renege and consolidation period as we are breaking trough a tough resistance zone which i have specified with the red box.
or a little bit correction to 127% of fib but the ultimate target is to cross the resistance zone and hitting our target price of 350Rs
please comment your opinions
Note
we can see the price has retraced to 127% level of Fib projection and we may see a little bit of fall to the parallels leg of the sameyou can Scale in and buy more shares or contract at these areas as we are still bullish on this ticker UP to our TP zones
Trade closed: target reached
we have reached our TP and Closing the position at 400 RSi shall update new position in this stock soon
cheers
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