SID trade ideas
SBIN | Go long | Use the Pull Back.When it comes to SBIN , the stock is still in good uptrend. Last day market closed near 460 & likely to reach 464 soon. Though it is not a good idea to take the position right now since price is too far from previous support area and it is also expensive now. I think you might get a good pull back to get in. You could use the support area to get in when price falls. When market opens next day, if the price gaps down & break S1, make sure to go long from S2; which is a demand area. Once you are in, make sure to place the stop below the nearly support area .
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
SBIN - SHORT, TREND BREAKOUT, PATH PREDICTIONhappy new year to all! the SBIN share recently broke out the uptrend both daily and weekly. and also the price is below the moving averages of 21, 50, and 100. so it's time to short the stock. here I have predicted the path and mentioned it in red and blue lines. even though the pin bar forms in the weekly candle at the support zone(in the chart) there is less chance it will go to 540. so wait for a breakout of the zone mentioned in the chart to short the stock. there is a chance for two patterns to form. either double top or head and shoulder. please wait for zone breakout if it does it will definitely touch 315.
please comment your suggestions, thankyou.
inverted pole and flag in sbin in 1h timeframestock is ina downward trend and now is consolidating ina a range
sell entry can be created below strong closing of 452.50
and target of 444
sl can be kept in range of 459-461
this is not an investment or trading advise
pls consult your financial advisor before making any move
the given chart is for an educational purpose
Please drop down ur thoughts or any advice on the given chart
SBINNSE:SBIN
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SBIN BANK SBI Bank was following downward channel.
took support at the trendline which was earlier resistance line.
trading above 200 EMA on daily timeframe.
50 EMA line is acting as resistance on 1 Hour chart.
Resistance line is marked as Red Line.
Support Line is marked as Orange Line.
Volume is reducing continuously.
It as range bound since few days ready to blast upside or downside with volume.
Resistance Levels are 463 - 479 - 491 - 500 - 506 - 515 - 532.
Support Levels are 451 - 444.
This is for Educational and paper trading purpose only. Must consult your financial advisor before investing or taking any position in the market. please correlate by yourself also on charts.
SBIN| Good for go long | Get ready for a buyIf you find this technical analysis useful, please like & share our ideas with the community. Coming to the technical analysis of SBIN, I think we are going to see a gap down when market opens next day. That doesn’t mean price going to keep falling. Since we have a demand area as well as a support area near 464; where price gapped up, the price likely to get support there and bounce back to move upwards. So get ready to go long.
What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis.
Good Luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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SBIN (LONG)On Weekly Chart SBIN is following within Channel
460 level is a good Channel Support, Trendline Support & also 21 EMA support on weekly Chart.
taking Support at 89 EMA on Daily Chart.
SBIN Buy near 460
Tgt 506-534-558
small Sl 442
Deep SL 400 (Also near 50 EMA on weekly Chart)
Please Correlate by yourself also on charts. This is for Educational and Paper Trading Purpose Only. Must Consult your financial advisor before Investing.
GOLDEN CROSSOVER & Support on EMA- These are 5 popular Moving Average used by Traders mostly on Hourly/Daily/Weekly/Monthly Timeframe.
- whenever a fast moving average cut a slow moving average from down to up - its a "Buy" opportunity... For eg: if Green Cut Red and moves above it.
- while Buying ... Next Slow Moving Avg below it can be used as SL, Like in above case keep Red as SL Line ... or may be further next as per the risk appetite.
- and Opposite condition to Exit. Like in above case if Sell condition comes.
- whenever a fast moving average cut a slow moving average from up to down - its a "Sell" opportunity... For eg: if Green Cut Red and moves below it.
- while Selling ... Next Slow Moving Avg above it can be used as SL, Like in above case keep Red as SL Line ... or may be further next as per the risk appetite.
- and Opposite condition to Exit. Like in above case if Buy condition comes.
- You may use some other indicator also to Exit.
- You may follow risk reward ratio to Exit.
- or some other way to entry or Exit.
GOLDEN CROSSOVER:-
Golden crossover is a condition when on Daily Time frame "50 Moving Average" Crosses "200 Moving Average" from Down to UP.
this is a good BUY opportunity in many stocks.
So if you see "Golden Crossover" happening You may Take a LONG Posn.
When to Exit this LONG posn depends on your Risk Appetite - You may Exit as per RR ratio - or keeping Slow MA as SL like mentioned above - or waiting for opposite to happen - or Exit as per different TF - or Exit with the help of some other indicator - or any other method you have deviced.
21/50/89 EMA Support:-
On Daily Time Frame Most of the Stocks/Indices/Commodities/Forex takes support On 21/50/89 EMA/SMA/DEMA also similar to 200 EMA etc and bounce back from this level. so many traders take LONG posn near These EMA/SMA etc keeping SL at Support level Below these 21/50/89 EMA/SMA etc for good Risk Reward Ratio. these show good support at 1Hour ... Weekly ... Monthly and other time frames also. Such stocks you need to identify. one such example is SBIN ... you can find it taking support at 50-89-200 EMA before Bouncing back... another is Ultratech Cement which bounce back from 89 EMA and 200 EMA. So you need to find out these stocks to make an appropriate entry as per your risk level.
I am not a SEBI Registered Analyst. Please Correlate by yourself also on charts. This is for Educational and Paper Trading Purpose Only. Must Consult your financial advisor before Investing.
Hope this helps most people to take basic trade.
Happy Trading !
NSE SBIN / SBI Descending ChannelsSBIN has taken support at trendline for few times.
If trendline is broken, it can move towards main channel support OR will keep consolidating below 515-520 to form triangle or rectangle pattern.
Take confirmation from RSI and traded volume .
Moving average is taken on daily basis.