SBIN is currently trading around ₹800 and is positioned at a crucial support/resistance zone (around ₹790–₹800). This level previously acted as resistance and may now act as strong support.
Before taking a trade, two scenarios should be clearly considered:
1. Upside Confirmation (for a Bullish Trade):
If SBIN closes above ₹805–₹810 with strong buying momentum, a long (buy) position can be initiated.
Target: ₹840 / ₹870
Stop Loss: Below ₹788
2. Downside Confirmation (for a Bearish Trade):
If SBIN gives a daily close below ₹790 and the support breaks, a short (sell) trade can be taken.
Target: ₹765 / ₹740
Stop Loss: Above ₹805
DISCLAIMER: I am NOT a SEBI registered advisor or a financial adviser. All the views are for educational purpose only
Before taking a trade, two scenarios should be clearly considered:
1. Upside Confirmation (for a Bullish Trade):
If SBIN closes above ₹805–₹810 with strong buying momentum, a long (buy) position can be initiated.
Target: ₹840 / ₹870
Stop Loss: Below ₹788
2. Downside Confirmation (for a Bearish Trade):
If SBIN gives a daily close below ₹790 and the support breaks, a short (sell) trade can be taken.
Target: ₹765 / ₹740
Stop Loss: Above ₹805
DISCLAIMER: I am NOT a SEBI registered advisor or a financial adviser. All the views are for educational purpose only
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Disclaimer
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.