SBI NSE 2021 quarterly analysis with time speculationsHi
here we have a complete Price Action and Fibonacci analysis with specifying the time zone speculation of upcoming events
we are mainly bullish on it as nifty also is bullish these days but still we have chances of retracement we we can not break the current price and which is 61.8% of our bearish retracement Fib level ( Price: 280.00)
and if so then we may have an other bearish wave down which is less likely to happen but yet there are some chances and the market is very dynamic in finance sectors and any thing may happen
please share you opinions in the comment section for me.
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thanks
SID trade ideas
State Bank Of India - Price may fall.Hi Traders,
The price of SBI has broken the upper channel which is an indication of exhaustion. There is a key zone at 297 - 314 levels which is in confluence with a Fibonacci retracement level, So we can expect the start of a bearish cycle from these zones. The price can react with the golden zone but the overall momentum will be bearish. If price manage to break the key market structure, we can confirm the start of the bearish cycle which will result in the break of the trendline.
Note:-
1. The key market structure can change if price tests the Key zone at 297 - 314 levels.
2. This analysis can be used only for long term positions.
3. This analysis is done based on technical analysis without considering any fundamentals.
Pls comment below for any queries.
Happy trading....