sbi bank pre market analysisSbin has already given breakout, so we could enter after pole and flag pattern breakout
Sbin
SBIN--Test of Supply is Needed??Observations::
price clears all the demand zones on bottom side...
now price is coming back to test the previous demand zone may acts supply zone
or to test strong fall area to again fall...
POI are marked on the chart please look at these areas...for sell
Keep track these levels. 580 and 590 Zone
SBIN--Bullish Outlook to Long ??Observations:: SBIN
--->> Price is trading in a channel...
if we see the difference between the HH is decreasing gradually...
which is a sign of reversal in this stock...
clearly price created a gapdown as well, indicating a bearish sign....
we are clearly in an uptrend, price tries to go upside from 570-555 range,
but that not move too much..only 20-30 points we can expect.
Look for buy when price comes back to the below levels,
We have a demand zone,@540 levels, and strong movement to the upside is observed at 530 levels,
if we enter long in this area we will ride the trend again and only be exited at 630 levels only.
Keep a note on this levels, and also track this levels.
SBIN--Drop base drop formation??Observations::
This is a continuation post to my previous post about SBIN::
Consolidation Happens between the demand zone and supply zones. Price restriction is happens between the zones.
While breaking the previous demand zone, price leaves a supply zone @586-590 range,
if price wants to test this supply zone and falls below or continue to fall down.
A Drop -Base-Drop is going to be observed, we have left with drop formation, if price breaks the smaller trendline will observe a fall towards target 1 and target2.
keep track this instrument.
FINNIFTY EXPIRY 23RD MAYNifty fin had formed a 100 points range from 19400 to 19300.
The sustained breakout on the either side can give a 100 to 150 points momentum.
But as market is in bullish zone, we will try to go 100% on the buying side and 25-30% on the selling side.
market has created a very narrow range inside the blue trendlines.
breakout is expected on the upside.
Have a big green day!!!! tomm
#finnifty #longside #breakout
SBIN--Fake Breakout @590 range.----->> after strong fall from 588-590 range, price again coming back to supply zone with consolidation to upside,
if failed to create a new high and falls below 575 range then sell for the target of 565 range.
the demand zone @ 575 range acts as support and the demand zone created at 582 becomes resistance, hence price is in consolidation.
if price consolidation to downwards price again rise from 565 range.
Monthly expiry is between 590 to 565 range.
keep track of these levels.
SBIN--Demand fails to create a new high, look for sell??----->> after strong fall from 588-590 range, price again coming back to supply zone with consolidation to upside, if failed to create a new high and falls below 575 range then sell for the target of 565,555 range.
keep track of these levels.
SBI SBI good trade based on price action
And results in 18 may 23 I think results are expected number
SBIN--Which is Support Trendline or Resistance??Observations::
the stock is trending upwards.
------>>Today SBIN is showing Bearish pressure.
-------->>Bearishness is continue or Reversal May Happen at 570 levels.
---------->>Previously A strong selling pressure is observed at 570 level ,look at the reaction at these levels to go upside or downside.
---------->>Previous Resistance if turned as Support again, price will rise.
------------>>price break and acts as resistance more fall is going to observe. keep an eye at these levels.
------>> we have a trendline support as well, keep look at these levels.
Please like, if this information is Helpful.
SBI SBI is now at its major resistance. We can expect a little downside from here to form a Cup and handle pattern. And it will boost itself to the upper side. As its technicals are very good at the moment.
SBIN at support in daily chart
SBIN Prediction: The market is at important support. The market is very unlikely to go down from here.
The prediction is sidewise or up.
Good for swing traders with 3-6 months of lookout and SIP
SBIN Conditional Buy levels 28.03.2023This is conditional buy view on NSE:SBIN . If 45min candle closed above 515, we can make a entry with stop loss of 507. My expected upside target will be 528.00. It would be positional trade for 1-2 days.
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
Intraday buying opportunity The scrip has formed an inverted HnS near support so expecting some bounce today, keep in radar.
Sector Analysis Four sectors that are outperforming NSE:NIFTY
{A} NSE:BANKNIFTY Though not by big margin definitely out performing NSE:NIFTY . Break above 42000 will be a great sign.
Stocks to watch out; 1) NSE:CANBK 2) NSE:ICICIBANK 3) NSE:INDUSINDBK 4) NSE:SBIN
{B} PSU Bank . 1) NSE:CANBK 2) NSE:SBIN 3) NSE:BANKBARODA
{C} NSE:CNXINFRA got a big push at Budget and is evident from stock performance . 1) NSE:LT 2) NSE:SIEMENS 3) NSE:ABB 4) NSE:NTPC
{D} BSE:MIDCAP is best out performer, if overall market improves will run away. 1) NSE:CUMMINSIND 2) NSE:PGHL 3) NSE:HAL 4) NSE:TORNTPOWER
Expiry Day Plan for #BANKNIFTY Banknifty Expiry Plan is laid above, With weak resistances in place, it is expected to be a trendy upside expiry tomorrow.
Soon On Moon 🚀🔥🔥🥳🥳Breaks Trendline ... And also make W pattern and also retest the resistance... So go for it .. Now 🔥🔥🚀🚀🥳🥳👍🏻👍🏻
SBI (STATE BANK OF INDIA)The idea is based on the Elliott Wave Theory. The rally in PSU Banks seems incomplete and SBI could reach higher levels before making a corrective move.
If the ending diagonal doesn't invalidate, a reversal is likely from the upper trendline.
SBIN -- Good prospect for long & towards 700SBIN took good support on trendline (from 2019) despite of fall in recent days.
So, target would be around 700 in 3-4 months considering the trendlines pattern.
You can see upper trendline cut through candles but it's to showcase the width of trendline till 2019 in various cases, it acted as resistance.
Note: this is just an educational purposes and not a recommendation at all.
SBIN: Structure
NSE:SBIN has sharply fallen from a downward channel. Now forming a pennant pattern.
Though it is bearish pattern it is tough to take a view on it. The best idea will be follow the price.
The probable targets are mentioned on either side. Put a tight stop loss
