STATE BANK OF INDIA
The result session of SBI is very near and also SBI has started showing negative divergence with RSI. Also there is -ve Wolfe Wave which all is indicating that a very steep fall is coming ahead in the banking sector. Bank nifty is trading @ the top which is also showing -ve divergence with RSI.
Chart1 is showing -ve WW for which the entry will be triggered once it closed below 2385 stop-loss would be 2440 and the targets are 2305, 2154, 2095.
CHART 1
A short trade should be taken from 2424-2463 zone with stop-loss @ 2475 on closing basis. Targets are 2424, 2360, 2263, 2167, 2083, 1976.
And initiate long if SBIN is able to close above 2475 for the target of 2552, 2584, 2612 with stop=loss @ 2463 on closing basis.
CHART 2
The result session of SBI is very near and also SBI has started showing negative divergence with RSI. Also there is -ve Wolfe Wave which all is indicating that a very steep fall is coming ahead in the banking sector. Bank nifty is trading @ the top which is also showing -ve divergence with RSI.
Chart1 is showing -ve WW for which the entry will be triggered once it closed below 2385 stop-loss would be 2440 and the targets are 2305, 2154, 2095.
CHART 1
A short trade should be taken from 2424-2463 zone with stop-loss @ 2475 on closing basis. Targets are 2424, 2360, 2263, 2167, 2083, 1976.
And initiate long if SBIN is able to close above 2475 for the target of 2552, 2584, 2612 with stop=loss @ 2463 on closing basis.
CHART 2
Today we have taken 3 lots short in SBIN @ 2463
ReplyDeleteOur 1st target of 2424 has been achieved today itself. And our trailing stop-loss would be @ 2460 on closing basis.
Now we will take double shorts when SBIN will give us a close below 2385
ReplyDeleteWe have covered our 1st lot @ 2360. Shorted @ 2463 - 2360 = 103 X 125 (1 Lot) = 12875 Profit
ReplyDelete