State bank SBIN Analysis for swing trade 20-03-2023
State Bank of India is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.
SBIN trade ideas
#Sbin cash : Positional Strong Support at 500-505#Sbin cash -Posiitona View
15.03.2023
Strong Support at 500-505
Cmp 517.55
SBI (STATE BANK OF INDIA)The idea is based on the Elliott Wave Theory. The rally in PSU Banks seems incomplete and SBI could reach higher levels before making a corrective move.
If the ending diagonal doesn't invalidate, a reversal is likely from the upper trendline.
STATE BANK OF INDIA : Trend Reversal..!All PSU Banks are making Base and value buying. Which is one of the SBIN Stock on Daily TF we can see that Volatility Divergence was made from last couple of week. with not volume support. But today Bank Nifty and all PSU Bank Sector going well and made strong Base. With Bank Nifty Support all PSU Bank performing well and ready for going upside. Today SBIN break the volatility Squeez and given higher closing with high volume. Momentum Support with Daily and weekly Basis. Now all PSU Banks along with leading State bank of India ready for going upside.
Entry : CMP
SL: 536
Upside Move : 596
A short video for tomorrow sbi chart view Hi ,
It seems that for tomorrow perspective if sbi broke the support of rs. 532.40 then it will goes down 525.50. If in the first half sbi broke the support zone then short the stock tomorrow
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Double buttom + Inside barSBI is giving Double bottom breakout,
Already given the Inside bar Green candle
Can be considered to go long for:
Entry: 527
Target1: 547
SL: 502
Long above 540Due to global pressure SBI found severe selling during last season. However the ABCD pattern may active if the price closed and sustain above 540. Let see how this will work.
This is just my point of view and no more recommendation.
SBIN -- Good prospect for long & towards 700SBIN took good support on trendline (from 2019) despite of fall in recent days.
So, target would be around 700 in 3-4 months considering the trendlines pattern.
You can see upper trendline cut through candles but it's to showcase the width of trendline till 2019 in various cases, it acted as resistance.
Note: this is just an educational purposes and not a recommendation at all.
SBIN: Structure
NSE:SBIN has sharply fallen from a downward channel. Now forming a pennant pattern.
Though it is bearish pattern it is tough to take a view on it. The best idea will be follow the price.
The probable targets are mentioned on either side. Put a tight stop loss
Buy SBI for a short target of 545Hammer candle formed at lower end of chart .. wait for confirmation. Target is next resistance level i.e. 545
sbin view for today 6th FebSBIN view for today 6th Feb
SBIN.. Touched support zone... reversal started..
Please follow strict risk reward and stop loss if u follow the level
Thanks,
V Trade Point
#SBINSBI also posted a strong results and good buying has been seen in the stock...largest PSU has strong potential for long term.
SBI I HAVE FOUND THE PATTERN ON CHARTi have found the stock of pattern break out or breakdown happen be ready for it
Might see Correction from Here .❓❓🤔It's a major resistance and we can except a pull back from here .. ..
It's just My view ..
Buy SBIN at 540 - target 552 (2 %) in 1 weekExpected to reach atleast 38.2 % of fall as per Fibonacci retracement.
State Bank Of India (SBI)I think this Red Dip Is a biggest opportunity to buy this fundamental stock and we are very known about the #SBI Bank so as a long term view and short term also can take this for both point of view.
DISCLAIMER - IT'S MY STUDY PONTS NOT ANY RECOMMENDATION. THIS IS ONLY FOR STUDY PURPOSE.
Awaiting confirmation of pennant chart pattern - SBI NSE:SBIN
Awaiting confirmation of pennant chart pattern on SBI's chart
STATE BANK OF INDIASBI day chart where strong support zone is : 568 Below it goes weak
Resistance zone is : 605 which is swing high
IMPORTANT LEVEL FOR SBI BANK525-535 IS is an important level for sbi bank.this level is 50%fibonacci retracement level of last move and also it has the huge volume happening in this level which is showing in the fixed range volume profile.so let"s see what happened if it corrects or not and if so how this level reacts in this movment?
SBI IMPORTANT BREAK DOWNFind Entry Opportunity To Short The Trade
SBIN IS IMPORT SUPPORT LEVEL IN 1HR. TIME FRAME
