SBIN Looks Like It’s Finally Found a Floor

  • After a few months long consolidation SBIN witnessed a triangle pattern breakout, backed by increase in trading volumes.
  • The stock has witnessed a sharp selloff from 300-320 levels and has bottomed out around 170-200 levels. 
  • In addition, the stock have closed above the higher range of Bollinger band.
  • The support on the lower side is pegged at 170 levels with no immediate upside resistance.
  • Any sustainable move above the neckline 210 level could have the strong positive impact in the near term.

2 Comments

  1. Rajshekhar

    Beautiful ascending triangle and also post breakout holding the 200 levels for 2 days . need to check the momentum

    Reply
  2. Milind

    This volume included your Home shares also ?

    Reply

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Article Info

Published Date: August 13, 2020
Author: Valarmurugan

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