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STATE BANK OF INDIASTATE BANK OF INDIASTATE BANK OF INDIA

STATE BANK OF INDIA

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SBIN trade ideas

SBIN 4HRBearish Butterfly formed at Daily Resistance & at Daily pattern zone levels TOP Reversal --second bar close & low are lower than the first bar low, on volume higher than the first bar volume, it shows effort to go down is successful (if second bar high is higher than the first bar high it shows additional weakness). It shows immediate weakness (Effort vs Result) & can be traded immediately on first No Demand price need to follow Green Trend line & hit target If price Breaks Red Trend line is where EXIT before SL hits POTENTIAL SELL
NSE:SBINShort
by PriceActionTradervsa
State Bank of India analysis on a daily and weekly timeframeState Bank of India Analysis 123 Trend change confirmed on 9 July 2020 upon the penetration of 8 June 2020 candle. According to Trader Vic method , long position can be taken here with a stop loss below 22 May 2020 candle. We can see an inverse head and shoulder pattern forming, so we can wait for it to break to enter the trade safety. On 12 August a strong break with high volume. Traders who take breakout enter here. I wait. Note how the prices are now contracting ( consolidation ), hoping to break above, forming an ascending triangle . RSI is strong and takes the support of around 50. Prices above 20 periods moving average. Volume decreasing making a strong case for ascending triangle. Overall, a bullish case with the entry above 207.51. Stop loss based on your risk level. First target 231 Pattern target 249 Third target 294 If you like the analysis and tutorial, please donate coins :) Thanks and good luck!
NSE:SBINLong
by tradewithmitra