SBI IS AT THE VERY CRUCIAL LEVEL. IT IS JUST ABOVE THE MULTI MONTH RESISTANCE RANGE OF 194/95. ON ACCOUNT OF FEAR IN THE MARKET, SBIN HAS BEEN FALLEN TILL 0.698 FIBONACI LEVEL IN THE 4 HOURLY CHART. IT IS FAVOURABLE TO LONG THE STOCK AT THIS LEVEL FOR THE UPSIDE OF 7% TO 10%.
THEORITICALLY THE STOP LOSS FROM THIS LEVEL IS AT 194 FOR INTRADAY PLAYERS, WHILE FOR POSITIONAL TRADES IT COMES AT CLOSING BELOW 194.5. WATCHOUT FOR THE BOARD MEETING AT THIS WEDNESDAY I.E 15TH OF JULY.
I MYSELF HAS A LONG POSITION AT 199 TAKEN AS ON THURSDAY AND WILL ONLY EXIT AT CLOSING BELOW 188, WHERE IT WILL BREAK THE UP TREND LINE, WHICH DOESNOT SEEM TO BE HAPPENING . HOWEVER UPSIDE TARGET WILL BE 210/215, AFTER WHICH IT MAY GO INTO CONSOLIDATION AND LOSE MOMENTUM.
THEORITICALLY THE STOP LOSS FROM THIS LEVEL IS AT 194 FOR INTRADAY PLAYERS, WHILE FOR POSITIONAL TRADES IT COMES AT CLOSING BELOW 194.5. WATCHOUT FOR THE BOARD MEETING AT THIS WEDNESDAY I.E 15TH OF JULY.
I MYSELF HAS A LONG POSITION AT 199 TAKEN AS ON THURSDAY AND WILL ONLY EXIT AT CLOSING BELOW 188, WHERE IT WILL BREAK THE UP TREND LINE, WHICH DOESNOT SEEM TO BE HAPPENING . HOWEVER UPSIDE TARGET WILL BE 210/215, AFTER WHICH IT MAY GO INTO CONSOLIDATION AND LOSE MOMENTUM.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.