SBIN Long for Swing PositionOverview: SBIN has been in a downtrend on the 4-hour timeframe but recently bounced from the key support level of 775. The price faced strong resistance at 795, which was a critical level for any upward movement. However, SBIN has now broken through this resistance with solid bullish momentum and has reached 805. This former resistance level is likely to act as a new support if the price comes back for a retest.
Trade Plan: Keep a close watch on the 795 support level, especially on a lower timeframe like the 15-minute chart. If the price shows bullish signs around this level, consider buying a small position and holding it for a potential swing trade. The target for this trade would be 900 or higher. On the other hand, if the price fails to hold the 795 support and breaks below, the next area to watch would be 774. If bullish signals appear at 774, it could be a good opportunity to add to the position for another swing trade. However, if the price continues to decline and doesn't hold this level either, it may be wise to wait and look for a better entry at 726 or exit with a stoploss below 775.
Conclusion: If the swing high of 805 is broken, open a long position with the trading plan mentioned above. I'll keep you updated on further price action as it develops.
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Sbinanalysis
State Bank of India (SBI) – Bullish Reversal Setup State Bank of India (SBI) – Bullish Reversal Setup with Inverse Head and Shoulders Pattern
SBI is currently forming a classic Inverse Head and Shoulders pattern on the daily chart, a strong indication of a potential bullish reversal. The neckline, located at ₹826.45 , is the critical level to watch. A successful breakout above this level could trigger upward movement towards ₹880 and ₹911 , with volume confirmation needed to validate the move.
Technical Highlights :
Inverse Head and Shoulders Pattern: The formation of this pattern suggests a trend reversal from bearish to bullish. The price is consolidating just below the neckline at ₹826. A close above this could indicate further strength.
Support and Resistance: Immediate resistance is at ₹826.45 , followed by targets at ₹880 and ₹911 . On the downside, the stock finds support at ₹790 and ₹762 , which could act as stop-loss zones.
Volume Profile : High activity in the ₹790 - ₹826 range signals strong buying interest. A breakout above this range could push the stock into the next major volume zone around ₹880 .
Moving Averages: The stock is trading above its 20-day, 50-day, and 100-day moving averages , confirming a bullish bias in the near term.
RSI (Relative Strength Index) : RSI is neutral around 50, signaling consolidation. A push above 60 would confirm bullish momentum in line with a potential breakout.
Outlook:
Bullish Scenario : A breakout above ₹826 could open the door for a move toward ₹880 and ₹911. Traders should look for volume confirmation to ensure the breakout's sustainability.
Bearish Scenario: Failure to break above ₹826 could lead to a pullback toward support at ₹790, with ₹762 being the next key level on the downside.
SBI appears poised for a breakout, making it an attractive opportunity for traders looking for a bullish reversal setup.
SBIN Long Trade setup in 15m TF using RisologicalSBIN Long Trade setup in 15m TF using Risological
SBIN profit target 1 done!
The dotted line on the Risological swing trader acts as the trailing stop of the trade.
The trade looks good and should reach the Target 4 within a few days, unless there is a bad reversal.
So, keep a close watch on the trailing stop and trade safely.
SBIN upside target 840, 850State Bank of India may see good bullish momentum this week, the stock is on a bullish breakout on the daily chart, breaking which could show the stock a good rally. This stock can also see targets up to 840. The stock has also closed with a gain of five percent in today's session. The stock has also seen a bullish engulfing candlestick pattern on the daily chart indicating a good uptrend in the stock.
SBI Bank Analysis for long term and short termAfter gave a good move till 5 March price consolidating in a range of 724-793. It's all time high level For SBIN. At 25 April price break the 793 level with a good volume. Now price try to retrace the 793 level. At 793 level if we can find any bullish candle
Swing trader can averaging there position .
For Intraday:
we will wait for taking retrace at 793 level and find any bullish candle for entry with a stop loss of 775 . Minimum Target of 1:2 for now.
Also I'll update you accordingly here.
SBIN--Head & Shoulders pattern??This stock is bullish in action.
A strong fall is noticed from the header section 795 levels
and we have a left shoulder at 780 levels.
price after clearing the liquidity below neckline price will take u turn until the right shoulder which is strong. So keep an eye on this stock for short once reaches to the right shoulder area.
we have a demand zones lies at 650-640 areas.
wait for the price to form a right shoulder, to confirmation and breaks the neckline for more confirmation and retest for more confluence to enter short side up to the demand zones.
SBIN--Rally Base Rally or ReversalThis stock is continuously rising...
we have a demand zone lies at 700 levels...
observed rally base rally is going to observe in this stock.
if failed to go long from this place price will test the demand zone at 700 levels...
keep looking for long side from this demand zone for the target 840.
BUY SBIN AROUND 440 TGT 495/535/580/640 SL BELOW 380 AVG @ 425Currently it is trading below 100 DMA and it is supposed to make a minor pull back before taking support around 200 DMA and will resume its further uptrend. As budget session is also approaching and the previous quarterly results were also stable and is supposed to perform better in the current quarter. Any breakout above the price action line will make it to go for above mentioned target with given SL.
SBI - 700 TARGET DONEWE ENTERED ON JAN 3RD 2024
Can Enter again at CMP - 630
If falls You need to average at 600 level
We have already Entered at 552 level
Target - 700,900+
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SBI - Elliott Wave CountSBI - Elliott Wave Count
SBI - the market breaks the recent tl support and can go around 615 range and then we can expect the reversal up to 670 range.
Please note that this information is solely for educational purposes, and it is essential to exercise caution when trading
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