SBIN trade ideas
SBIN might be open positive at Tuesday morningSBIN taking support at its wedge's trendline and as per option chain of sbin we can see unwinding at the price of 530 and...... at the chart as well where it made a rejection candle on 1 day & weekly chart so conclusion of that tomorrow might be it can positive at Tuesday morning
NSE:SBIN
SBINAs SBIN has gave the entry for double top and the target one is almost achieved but if it makes an head and shoulder there is still a chance to enter this trade and SBI is on all time highs so it has to retrace to go up. Enter on given levels and I'm sure you will make good money ,
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Support & Resistance Zones in 1 DTF//SBIN***Bullish-Trend, the Higher Highs and Higher Lows represents that, just Follow the Trend, the Trend is our Friend
>The above pattern has solid Support(3) & Resistance(5) Zones are perfectly formed.
>The Stop Loss should be strict due to the high volatile market conditions. The perfect SL would be around 525(-4.5%) according to me.
>The Target only for 1:2 Risk Reward, ideal would be 10%!
> The break-out is looking strong in 1 WTF, go watch yourself.
***SBI is the 43rd largest bank in the world and ranked 221st in the Fortune Global 500 list of the world's biggest corporations of 2020.
#The holding outlook as of Jun 2022 Quarter:
Promoter(Govt): Slightly Decreased.
FII's: Decreased.
DII's: Increased.
Public: Slightly Decreased.
Chart of the week. SBI Best of our government bank, SBI has finally given breakout out after 10 months of consolidation. Since last November the stock was taking resistance around 540. This week, however, it has managed to give a weekly closing above 540. SBI is a great Techno-Funda pick and each investor should have this stock in their portfolio. Targets as per Fibonachi are very aggressive so one should keep a deep SL and hold this share for long term view.
CMP - 553 W
Target - 620, 741, 862, 940 W
SL - 515 W
View - Medium to long term.
SBIN - TRADE PLANCheck out the trade plan for SBIN today based on the technical analysis. Hope this analysis is useful, make sure to hit the thumbs and also follow my tradingview profile for future updates. Thank you!
SBIN has Revisited the resistance and is now in consolidation under this resistance and support zone.