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SBI Breaks Head and Shoulders Pattern on 4H Chart – Time to Buy?SBI Breaks Out of Head and Shoulders Pattern – Pullback Entry Opportunity at ₹876 State Bank of India (SBI) has been forming a classic Head and Shoulders pattern on the 4-hour timeframe, and it has now successfully broken below the neckline, signaling a potential bearish move ahead. From a trading perspective, this breakout could present an opportunity for short sellers. A pullback or retest of the neckline around ₹876 could be an ideal entry point for those looking to ride the trend. If the pattern plays out as expected, downside targets are seen in the ₹845–₹850 range. As always, traders should monitor price action closely during the retest and manage risk accordingly, as false breakouts are always possible, especially around key levels.
NSE:SBINLong
by Kartik_Elkunchwar
Positional Setup for JIOFIN (Jio Financial Services Ltd) – 1D Ch 🟢 Current Market Price: ₹246.47 🟢 Change Today: +1.73% 📈 Technical Observations: The stock is showing signs of reversal from its recent bottom around ₹204–₹214. It has broken out above multiple resistance zones in the ₹232–₹246 range, showing strength. A breakout above ₹248–₹255 will confirm a short-term trend reversal. Next supply zones lie around ₹266, ₹277 and ₹306. ✅ Positional Trade Setup 🎯 Entry Zones: ✅ Current Levels: ₹245–₹248 ✅ Add More: On close above ₹255 (for confirmation) 📌 Targets: 🎯 Target 1: ₹266 🎯 Target 2: ₹277 🎯 Target 3: ₹305–₹310 📉 Stop-Loss: 🔻 SL: ₹232 (below support cluster & recent breakout zone) ⏳ Time Horizon: 3–6 weeks (for initial targets) 🧠 Technical Confluence: The stock is forming a rounding base pattern after a sharp fall — often a sign of trend change. Strong support seen at ₹232 & ₹214 — accumulation zone. Close above ₹255 will take it into higher zones with strong potential.
NSE:JIOFINLong
by RajputAmarjit
SBI: Inverse H&S BreakoutThe Inverse Head and Shoulders pattern is a bullish reversal chart pattern that signals a potential trend reversal from bearish to bullish. It consists of three key components: Structure of the Pattern: Left Shoulder: A price decline followed by a temporary rally. Head: A deeper decline forming the lowest point, followed by another rally. Right Shoulder: A decline similar in size to the left shoulder but not as deep as the head, followed by a move higher. Neckline: A resistance level that connects the highs of the two rallies after the left shoulder and head. The Inverse Head and Shoulders pattern in SBI, with a neckline at ₹783, indicates a potential bullish reversal. The stock has formed a well-defined left shoulder, head, and right shoulder, suggesting that selling pressure is weakening. The target price for this breakout is ₹900 calculated by measuring the distance from the head’s low to the neckline and projecting it upwards. If the stock sustains above the neckline, it could gain further momentum. However, traders should consider placing a stop-loss at 730 to manage risk in case of a failed breakout.
NSE:SBINLong
by TradingSutra