Monthly analysis of Bank Nifty Monthly analysis
Main support 20,900
Main resistance 23,200
Target 24,500
Sbin
SBIN breakout trade ideaSBIN in close range breakout above 201 with following to volume may lead to good trade
As long as RSI supporting above 50
SBIN - BULLS on the LOOSE Earlier breakout was rejected twice and proved to be FALSE. This time Bulls are on the loose and a target of 230 is achievable on 28 Aug,2020.
It may see a hight target of 250 next week.
STATE BANK OF INDIA After a long consolidation making an inverse HNS it broke out with a good volume. This is already a good entry point but for the more safer investors, entry above 213 would be ideal.
SBIN - Buyers Active at Support It has been observed that the price action formed a ascending triangle on chart and then breaks a strong bullish candlestick breaks above the ascending triangle and the resistance zone. Then the price action falls back to support where bullish buyers showed buying again indicating a further move up.
Expected Target: T-210, 220 & SL - 190 (1:3, 1:5)
SBIN -- INTRADAY TRADING SETUP FOR 18 AUG 2020 1 THIS IS FOR ONIY EDUCATION
2 ENTRY WHEN TRENDLINE BREAK WITH VOLUME
TARGET ; T1 189.5 T2 185.7 T3 181.40
SL ; 193.90
seems SBIN giving breakout from ascending triangle seems SBIN giving breakout from ascending triangle and its trading near 200DMA
SBIN | About time to go LONG- Forming an ascending triangle pattern.
- MACD squeezing in.
- RSI consolidating
- Something BIG is coming!
Best buying Opportunities for Long term3 years target seems 211. Currently short term seems 118 has good resistance.
SBIN - Heading towards a Bilateral Pattern "Ascending Triangle" Its creating a Ascending Triangle on a 4 Hrs daily chart. Around 6th August the trend can either go up or dip down. The entry point for SHORT is 186 and Target 180. The entry point for LONG is 201 and target is 220.
SBI Bank : High OI build up and strong on all indicator#SBI on July 31 reported a standalone profit of Rs 4,189.34 crore for the quarter-ended June, a growth of 81.2 percent over the year-ago period, driven by stake sale in the life insurance business.
Showing Bullish result in Technical Parameter:
CCI is treading UP
RSI is treading UP
MFI is treading UP
Stoch %k crossed above %D
William %R Trending UP
Aggressive new Long
Aug PCR OI is 0.54 means oversold.
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Resistance : 194.70 & 200 & 210
Breakout : 192.50
LTP : 191.10
Breakdown : 189.5
Support : 184.65 & 180
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Positive & Negative Point:
1) Bullish in Daily chart.
2) Neutral in Weekly chart
3) Bearish in Monthly chart.
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(Disclaimer: This is only for educational purpose and paper treading. Learn and take advice from you financial advisor)
Science Backed by Data[SBIN Series]: SBIN looks BullishNSE: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 what sectors are doing good, look for this analysis in related ideas.
CNXPHARMA
AuroPharma
Britannia
Reliance are leaders from last week. CNXIT is emerging as a fast challenger beating CNXFMCG . BankNifty is still a poor laggard.
July Performance
2020 Performance
SBIN WILL BE BULLISH BECAUSE OF IT'S SO MANY SUPPORT/RESISTANCE SBIN IS TOUCHING IT'S SO MANY SUPPORT/RESISTANCE & TRENDLINE
SBI look Bullish For Swing Trade.NSE:SBIN
SBIN trading in uptrend channel and today stock taken out its last swing high and sustain above it.
I am considering SBIN for swing trade with SL of 181 closing basis.
I am looking for target of 197 first and if SBIN hold strong that level then may be 202++ also possible.
SBIN ::: A PROBABILITY19 JUL 2020
INSTRUMENT: SBIN
CMP: 188.20
TIME FRAME: DAY
EXPECTED TREND: LONG
PRICE ACTION:
TARGETS FOR THE DAY ARE:
189.77 190.25
CHART ANALYSIS:
THERE IS A STRONG RESISTANCE BETWEEN 190.25 - 191.95 WHICH IF REJECTED CAN BRING IT DOWN TO 185.65 TO 178.05
MY ANALYSIS:
EXPECTING SBIN TO COME BACK TO 185.65 TO 178.05 ONCE IT GETS REJECTED AROUND 190.25 LEVELS.
SAFE TRADERS CAN SHORT SBIN BELOW 186.50.
RISK TRADERS CAN SHORT BELOW 188.50 LEVELS
STOP LOSS FOR BOTH WOULD BE 191.25.
RISK DISCLOSURE:
Technical analysis of FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS The views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.
