SM20 and Volume Profile, Volume candlesThe stock have traded with more volume at eod,
Keep watching may be we can get a gap up
#note this is for my learning to evaluate myself, maybe keep this in your radar, i am doing Papertrade only
SBILIFE trade ideas
SBILIFE SEEN IN BUYSBILIFE SEEN IN BUY. Because channel giving good support
on Trendline breakout. Also channel forming in Uptrend.
Yesterday the stock was open in Gapup.
SBI LIFE INSURANCE DAILY CHARTSBI LIFE INSURANCE waiting for Break out at 882. 1st Target 930, 2nd Target 950 & 3rd Target 1000 within 30 days.
MACD also in positive
Sbi lifeShort as mentioned , ( W frame resistance )
Note :-
Entry - At the break of mentioned candle's low/high
Stop Loss -
In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which I'll mention. Vice Versa for long trades
Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa
Use of PSAR as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change
You can use any one of above mentioned or your own way to manage risk
Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned.
Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it
SBILIFE - NSE1. Neutral share - Hold
2. Inverted Head & shoulder identified on 1 day chart
3. Volumes are stagnate from past couple of months
4. Overbought share will consolidation and will give a breakout
Long postion on SBILIFE - breaking a triangle One may go Long on SBILIFE as it showing positive breakout from a triangle formation. One may expect a target of 950 in coming weeks.
Go short if open flat or almost flat and cross level Go short if open flat or almost flat and cross level
SBILIFE Daily Bearish SHARK pattern didn't completed yet is price going to touch point D ?
Top Reversal is two bar Sign of Weakness. First bar is widespread up bar closing on/off the high with high volume -supply swamping demand or low volume -no demand. The high and the close are higher than the previous few bars. The second bar is widespread down bar closing on/off the low on higher or lower volume than the first bar.
As second bar close & low are lower than the first bar low, on volume higher than the first bar volume, it shows effort to go down is successful & second bar high is higher than the first bar high it shows additional weakness. It shows immediate weakness (Effort vs Result) & can be traded immediately on first No Demand or Up-thrust
Sell
SBI Life - Intraday / Swing TradeSBI Life CMP - 875.55
Looking bullish in higher time frame. One can go for Intraday / Swing Trade setup with the following entry, exit & targets
Buy at or Above 878 / Stop Loss - 870
Target 1 - 883
Target 2 - 888
Target 3 - 892 / 900
Disclaimer: This is my view and for educational purpose only.
SBILIFE - Watch out for important levelsSBI Life is in consolidation zone. Watch out for big movement on either side.
On 2nd December, I will be looking for Buy side when price range is around 846-847. Will look for Shorting opportunity when price range is around 855
SBI Life - Intraday / Swing Trade SetupSBI Life CMP - 863.15
Looking bullish in higher time frame. However, there is will retracement and then up side. One can go for Intraday Trade setup with the following entry, exit & targets
Sell at or Below ONLY 862.50 / Stop Loss 870.50
Target 1 - 859
Target 2 - 856
Target 3 – 850
Buy at or Above ONLY 870 / Stop Loss 862.50
Target 1 - 875
Target 2 - 880
Target 3 – 885
Disclaimer: This is my view and for educational purpose only. Trade according to your risk and am not responsible for your loss.
SBILIFE - Observation and Study Information - Bullish ViewThis analysis is based purely on Price Action and Chart Pattern.
This is just an observation as the pattern is yet to form (absence of clear signs)
Traders can observe the price movement and trade as per their study.
Feel Free to comment for any query or suggestion
