SID trade ideas
sbi has formed a bull trapit seems as if it has taken 1.618 level at weekly close basis. but meanwhile closed at .889 level of the previous swing high . So, for me it looks like a bull trap and I will short it for target 580 till 15th august.
take care and happy trading. and my stoploss will be 626 daily close.
SBIN - decision time soonSBIN may be ready for a bigger move soon. It seems that the price remains in a neutral formation .
Trade the breakout with a volume surge to avoide trading the fakeout.
We are ready for a move in either direction. And you?
Targets for longs and targets for shorts are shown on the chart.
Good luck
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.