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.
SID trade ideas
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.
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SBIN-Bearish gap is filled or may reversal.SBIN is showing Bullish pressure.
bullishness is continue or Reversal May Happen at 545 levels.
Previously A strong selling pressure is observed at 545 level ,look at the reaction at these levels to go upside or downside.
if acts as resistance more fall is going to observe. keep an eye at these levels.
SBIN in Downtrend (Bearish Crossover ) in Daily TimeframeAs we can see SBIN is retsesting. So as per Fib retracement it can take resistance at 525.95 and 541.65. These are importance price level for retesting. For being in downtrent SBIN should respect these levels. I hope this analysis can help you to understant broader view of SBIN.
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.