SBIN trade ideas
SBIN OutllookSBIN can be shorted below the provided support level as the nifty psu index is showing bearish structure.
State Bank Of India - Price may fall.Hi Traders,
The price of SBI has broken the upper channel which is an indication of exhaustion. There is a key zone at 297 - 314 levels which is in confluence with a Fibonacci retracement level, So we can expect the start of a bearish cycle from these zones. The price can react with the golden zone but the overall momentum will be bearish. If price manage to break the key market structure, we can confirm the start of the bearish cycle which will result in the break of the trendline.
Note:-
1. The key market structure can change if price tests the Key zone at 297 - 314 levels.
2. This analysis can be used only for long term positions.
3. This analysis is done based on technical analysis without considering any fundamentals.
Pls comment below for any queries.
Happy trading....
SBIN - Breakout- Long Watchout SBIN
Currently at important trendline level - if breaks and sustains - we can see 280/295/300+ levels in very short period.
Look at the market trend and take the trade.
SBIN STRONG BULLISHCan long for the targets of 300 as the first target, the Second target will be 370 with a stoploss of 270 if crosses 370-400 range SBIN has a very big room for the bullish movement.
SBIN : Looking for a shortSBIN : Looks like major upside rally done. Looking for short now at 290 - 300 lvls for a target of 250 lvl in either Jan or Feb series.
SL remains closing above 300 on daily charts.
SBIN - Good Volume breakout SBI has given a clear flag breakout in the daily chart with good volumes.
This pattern breakout is one of the best chart patterns with a good success rate.
Now, time to watch how soon it will reach the expected target of 320-325
SBIN 1h - Elliot Wave AnalysisSBIN 1h
ELLIOT WAVE
= 248.25 - 279.9
= 31.65
= 279.9 - 272.5
Wave 3 Targets : 304.15 (x1)
312.85 (x1.2)
Wave 3 occurrence is likely to be severe as Wave 2 movement was more or less flat
SBIN- State Bank Of IndiaStock in critical stage, will try to give breakout above resistance trend-line and if give breakout so can take entry on confirmation....will see on Monday...will find opportunity...
SBIN - LongSBI made a smart recovery in the past 3 sessions. Possible triangle breakout at 276.25. Immediate target 283. Jan 21 target - 305
Check all other indicators and parameters before you trade the stock. I have published this solely for educational purposes.
SBI LOOKING BEARISHIf stock market experts are so experts, they would buy stock not sell advice. so trust no one make your own analysis
SBINI'm not an expert I'm just sharing my views on SBIN for next trading day
I'm not responsible for any profit or loss this is not a recommendation
