Sbin
SBIN - BULL FLAG BREAKOUT - Medium/Long Term SwingThe above analysis is done purely on basis of Price Action & Chart Patterns.
The analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
For understanding how to trade a Bullish Flag Structure, refer to the ideas linked below.
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management.
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SBINSbi 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 positive, good price action seen along with trendline breakout and also good intensity of Volume .
Trendline breakout with good intensity of Volume
Key Levels are Mentioned on chart
Macd in daily positive crossover and Uptick and also above zero
Macd in hourly positive crossover and Uptick and also above zero line
Upper Bollinger band challenged in both daily and hourly along with Trendline Breakout
Rsi in both daily and hourly above 60 uptick and Breakout
DMI ADX UNGALI POSITIVE in Daily and hourly
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
A wedge and a Black Line Vicinity EXPIRYBanknifty has formed a wedge on 240H timeframe which gives a sense that the index might get re stuck before uplifting to a greater HIGH. However Expiry is to be well planned so that our actions be clear when we trade . Heres above the Three Possibilities and possible travel path for #BANKNIFTY
SBIN LONG INTRADAY 5 JUL,2021Dear trader,
If u look at the chart of SBIN (analysis based intraday only) the SBIN Buy at 424 and Target at 431
Best Buy at 421.
Our Best Buy is based on high quality research and when the instrument reaches this level , it’s a jackpot trade.
Best Buy level might be executed or might not be executed.
The chart clearly indicates Bullish Trend you can also see the candle stick patters for more indepth analysis.
In Intraday most important thing is to enter and exit points.
Our signals are based on analytics, algorithms, mathematical derivatives.
Always be a responsible trader, kindly trade only when you have maximum opportunity in the market with minimum risk and with keynotes like data, analysis and proper strategies.
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