SBIN trade ideas
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.
SBIN FOR LONG TERM INVESTMENTNSE:SBIN
Hello friends,
Again comes with an Idea on SBIN. As per the chart of this stocks seems smart money is buying somewhere in the stock in the flag. Hoping that the stock will break its flag formation upward channel and go for some decent gains. However, there is a big SL which can be problematic for short term traders/investors due to large numbers of COVID surge in our country. Any one having looking for long term investment in the stock can be a good choice. The targets and stops provided on the chart. The short term traders and positional traders can adjust their stops and targets as per their own choices.
BUY SBIN AROUND 432-433 TGT 465/520 SL BELOW 398It is making a morning star pattern and taking the support of 50 week moving average. Looks good for a short term buy, especially when the government is planning to speed up bad bank process, also the previous quarterly results were good and the stock didn't make any wild move yet.