State Bank Of India
Furthermore extending the analysis looking from Time factor Adjoining bar counts on basis of Significant Swing Top and Swing bottom.
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The PSU banks has remained under pressure and have underperformed significantly.
The PSU banks has eroded investors wealth and has failed to bring cheers to investors portfolio value.
The PSU bank Leader State Bank Of India has been trading in long tight consolidation range of 200 points since 2010. Meaning the stock has remained in the range since more than 8 year as of now.
Here the questions arise and adds fear,
What if Price gives a breakdown from the range. ???
The chart attached below is the Monthly chart of SBIN with Heikin Ashi Chart type.
The chart displayed highlights the stock has dropped back to Multi year historical crucial support area. Going ahead if price fails to hold the support, according to my analysis next strong demand zone is visible around 100 levels. And again if price witnessed bulls force emerging we can see decent up move and can developed good trading opportunity with favourable risk to reward ratio in place.
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| SBI MONTHLY (CLICK TO ENLARGE) |
Furthermore extending the analysis looking from Time factor Adjoining bar counts on basis of Significant Swing Top and Swing bottom.
The chart attached below shows Price and
Time Symmetry which helps in understanding the strength of support and resistance.
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| SBI Highlights bar count (CLICK TO ENLARGE) |
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