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SBIN trade ideas

sbin buy ideait can be clearly seen that the script is struggling at 1.272 retracement level since last 3 months at the price 434.80 to give a monthly close above it and not succeeding. But also each month a higher wick is making in the process. Also schiff pitchfork 0.5 retracement line has become a hard obstacle to breakout since last 4 months , here it is also not win over but also not price going downward with a higher speed rather it is making a higher low. This month this line coming across around 449 level. script has already tasted the level and has returned from 1.414 retracement level with a higher speed than its usual speed. Still if we look at the opening of the month and close of the week it has opened above 1.272 level and also survived to close above the 1.272 level on weekly basis. if we look at the moving averages 50 day ema is coming around 435. So, my conclusion is bullish for the stock and stoploss is very very strict at 434. It might be a tougher job might I will have to buy it several times this week but anyway my move will be stay long above 434 for target 449 and exit at 434 this coming week.
NSE:SBINLong
by Somanathrout
SBIN - BULL FLAG BREAKOUT - Medium/Long Term SwingThe above analysis is done purely on basis of Price Action & Chart Patterns. The analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets. For understanding how to trade a Bullish Flag Structure, refer to the ideas linked below. The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management. Feel Free to comment or message me for any query or suggestion regarding this stock or Price Action Analysis. Checkout my other ideas to understand how one can earn from stock markets with simple trade setups.
NSE:SBINLong
by AdityaKarn90