SBIN trade ideas
SBIN ANALYSIS CHART.........................SBIN 251.70 LVL. CORRECTION POSSIBLE....................
STATE BK OF INDIA 4HRBigger Butterfly & smaller Butterfly strong potential reversal zone
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL SELL
SBINEasy to see head and shoulder pattern. Today in INTRADAY I took a stupid trade. As the candle closed below 222 on 5min chart I short Sell the share without noticing that the candle is taking support above support line and on 200day EMA on 15min time frame, and finally I closed with loss. Buy side was the good opportunity and I didn't saw it. SHARE MARKET IS ALL ABOUT CONTROLLING YOUR EMOTIONS. Please like if you have also done this mistake during your learning period.
SBIN - Bearish SBIN CMP - 226.80
Looking bearish in higher time frame. One can go for Intraday / Swing trade setup with the following entry, exit & targets
Sell at or Below ONLY 225 / Stop Loss 230.50
Target 1 - 222
Target 2 - 220
Target 3 – 217 / 215
Swing Trade Targets - 205
Disclaimer: This is my view and for educational purpose only.
SBIN levels to watchout for 13th November 2020It may retest and bounce back from the 222 support zone after the same resistance level is being broke on 10th but be cautious.
SBIN Weekly/Daily long 196,188-182 pro: 1.at swing low weekly SBIN Weekly/Daily long 196,188-182
pro:
1.at swing low weekly
2. entry to the zone is straight, so quick bounce
con:
1.very smaller daily candle in execution zones
2. 4 hrs candles are extremely small
confirmation entry only in daily candles
SBI has given reversal pattern after a fall in september.This stock has good potential to reach around 280+of price with present stock momentum. Kindly do proper analysis before investing.
SBI - Neutral to bullish view in coming daysPerfect example of an extended 5th wave (Blue)
when 1st (Black) and 3rd (Black) waves are of
equal length (26 points)
STATE BK OF INDIA 4HR Bearish Butterfly & Bat Potential reversal Zones
End of Rising Market- a narrow spread gapped up bar on Ultra High volume closing in middle or off the high having a strong bull run
AS the market is gapped up and approaching at previous resistance then this Showing its an even stronger sign of weakness.Market may rise up a little instead of falling immediately ,so im expecting price to touch zone before Reversal , as RSI ALREADY TURNING DOWN clear Weakness .so With RSI BELOW 70 Short must be on No Demand or Up-thrust after the End of Rising Market & stop loss at the previous resistance
Potential SELL
Will SBI cross the Control Price?SBI is currently moving under the control price and making a parallel channel. But because of the election, all the markets will get affected. Right now, it's trying to move upward to cross the control price ( 213 ).
If it crosses the control price, then it will touch the following levels 217.70 - 226.30 . That means the control price will react as support the same as the previous it reacted.
But as I mentioned above, markets will get affected. There is a strong possibility of a reversal. If it takes a reversal, it will come down and hit the following levels 195.20 - 192.50 . That means this time control price will react as the resistance.
SBIN 6 NOV 2020, 15 MINsbin wait for breakout for scalping either upside or down , highly depndent on nifty movement
Neutral Position on State BankTo take position it is necessary to wait either a breakout to buy or a pull back to sell ( on the yellow line)
