SBI (State Bank of India) - *****Please follow, support and like this idea if it helped you in anyway*****
***This is not a financial advise***
It is a long term stock -
***it might even surpass the 450 band***
The current major support is still holding and respecting
Total of three perfect touchdowns & 4th touch down might take the market to make a lower low from the last three lower low
Some interesting facts about State Bank of India is - that it is keep making higher high every 10 years has tried many times to make a new higher high every 5 years
so next three years to five years, Sbi is can be seen trading in 250 to 350 price band area
SBIN trade ideas
SBI - Intraday/Very short term swingThis analysis is purely based on price action
The analysis is on 15min TF hence target can be achieved in intraday trade or in couple of days
Trade strategy is explained in image itself.
Always plan your trade & trade your plan
Keep trailing SL accordingly once in trade
Trade at your own risk and money management
Feel free to comment for any queries & suggestion
SBIN SBIN is currently in Sideways trend and current very short term mode is sell
Last day we seen series SBIN future(OCT) shed nearly 31 lakh position in Open Interest which accounts nearly -3.1 % of Total Open Interest in OCT series.
The open interest is also not increasing with downtrend, which means this is a time for caution so don't lose your chips
What you can do as buyers is to wait for the RED LINE to break. If that happens a sudden outburst is possible to happen both in volume and price.
SBIN - Bearish SBIN CMP – 195.70
Looking Bearish and any bounce can be shorted. One can go for Intraday / Swing trade with the following entry, exit & targets
Sell range 192.55 - 190 / Stop Loss 196
Target 1 - 188
Target 2 - 185
Target 3 – 182 / 177
Short Term - 150
Note: This is my view and for educational purpose only