SBIN | Good Sell Opportunity. Go Short!If you find this technical analysis useful, please like & share our ideas with the community.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Sbinanalysis
Short $SBIN CMP ₹475.30Short $SBIN CMP ₹475.30. Falling channel pattern. Stock price recently broke 50 SMA with volume. It may retest 50 SMA but MACD is showing no signs of positive volume so it may not be successful. Lowers lows on day chart. Intermediate support ₹450 area. Short term target is 200 SMA which is ₹420 area.
SBIN | Go long | Use the Pull Back.When it comes to SBIN , the stock is still in good uptrend. Last day market closed near 460 & likely to reach 464 soon. Though it is not a good idea to take the position right now since price is too far from previous support area and it is also expensive now. I think you might get a good pull back to get in. You could use the support area to get in when price falls. When market opens next day, if the price gaps down & break S1, make sure to go long from S2; which is a demand area. Once you are in, make sure to place the stop below the nearly support area .
If you find this technical analysis useful, please like & share our ideas with the community.
What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis.
Good Luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
SBIN| Good for go long | Get ready for a buyIf you find this technical analysis useful, please like & share our ideas with the community. Coming to the technical analysis of SBIN, I think we are going to see a gap down when market opens next day. That doesn’t mean price going to keep falling. Since we have a demand area as well as a support area near 464; where price gapped up, the price likely to get support there and bounce back to move upwards. So get ready to go long.
What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis.
Good Luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
BUY SBIN AROUND 432-433 TGT 465/520 SL BELOW 398It is making a morning star pattern and taking the support of 50 week moving average. Looks good for a short term buy, especially when the government is planning to speed up bad bank process, also the previous quarterly results were good and the stock didn't make any wild move yet.
SBIN - LONG setupThis has been my fav stock in the PSU banks space.
Chart looks great on both Weekly and Daily charts. At a very critical stage right now and at resistance zone. Nice strong candle for closing and firmly up at the resistance zone, but RSI on both Weekly and Daily charts bullish and no where near overbought zones.
200 daily MA below should be strong support and positive trending stock.
Keep an eye on the whole PSU space for action.
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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