SBINAs SBIN has gave the entry for double top and the target one is almost achieved but if it makes an head and shoulder there is still a chance to enter this trade and SBI is on all time highs so it has to retrace to go up. Enter on given levels and I'm sure you will make good money ,
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SID trade ideas
Support & Resistance Zones in 1 DTF//SBIN***Bullish-Trend, the Higher Highs and Higher Lows represents that, just Follow the Trend, the Trend is our Friend
>The above pattern has solid Support(3) & Resistance(5) Zones are perfectly formed.
>The Stop Loss should be strict due to the high volatile market conditions. The perfect SL would be around 525(-4.5%) according to me.
>The Target only for 1:2 Risk Reward, ideal would be 10%!
> The break-out is looking strong in 1 WTF, go watch yourself.
***SBI is the 43rd largest bank in the world and ranked 221st in the Fortune Global 500 list of the world's biggest corporations of 2020.
#The holding outlook as of Jun 2022 Quarter:
Promoter(Govt): Slightly Decreased.
FII's: Decreased.
DII's: Increased.
Public: Slightly Decreased.
Chart of the week. SBI Best of our government bank, SBI has finally given breakout out after 10 months of consolidation. Since last November the stock was taking resistance around 540. This week, however, it has managed to give a weekly closing above 540. SBI is a great Techno-Funda pick and each investor should have this stock in their portfolio. Targets as per Fibonachi are very aggressive so one should keep a deep SL and hold this share for long term view.
CMP - 553 W
Target - 620, 741, 862, 940 W
SL - 515 W
View - Medium to long term.
SBIN - TRADE PLANCheck out the trade plan for SBIN today based on the technical analysis. Hope this analysis is useful, make sure to hit the thumbs and also follow my tradingview profile for future updates. Thank you!
SBIN has Revisited the resistance and is now in consolidation under this resistance and support zone.
SBI Daily Chart - Evening Star Pattern with high selling volumesDear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Evening Star Pattern near 52 W high- Reversal Pattern. Shall we expect profit booking after decent rally in SBI?