SBIN trade ideas
SBIN - 1DSBI came up with very good numbers over the weekend. if the stock gaps down and bounces from 500-510 level this proposal is a high probability and can go up to 570-580 before reversing for the C wave correction. if this plays out then it will be bear trap followed by bull trap.
This chart is for educational purpose and not a trading idea.
Short $SBIN CMP ₹475.30Short $SBIN CMP ₹475.30. Falling channel pattern. Stock price recently broke 50 SMA with volume. It may retest 50 SMA but MACD is showing no signs of positive volume so it may not be successful. Lowers lows on day chart. Intermediate support ₹450 area. Short term target is 200 SMA which is ₹420 area.
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.