1. DIYTechnicalAnalysis is a private community of traders and investors interested in building wealth from Indian equity market. You can become a member with a one time registration fee of ₹199. Click here to become a member

SBI - Swing Opportunity

Discussion in 'Technical Analysis' started by yankeedin, Aug 31, 2016.

  1. yankeedin

    yankeedin Responder

    Joined:
    May 3, 2012
    Messages:
    218
    Likes Received:
    90
    My view is SBI can be bought @ cmp of 252.30 with SL of 245, target 260.

    Disclosure: I bought it today @250.50
    SBIN_Daily_30-08-2016.png
     
    yankeedin, Aug 31, 2016
    Share #1
  2. yankeedin

    yankeedin Responder

    Joined:
    May 3, 2012
    Messages:
    218
    Likes Received:
    90
    I bought it checking hourly chart once it broke resistance of 250 and pushing above downward trend line as in attached hourly image
    SBIN_Hourly_30-08-2016.png
     
    yankeedin, Aug 31, 2016
    Share #2
  3. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,699
    Likes Received:
    1,940
    The chart looks awesome and it seems there is a breakout above the trending line.
     
    shabbir, Aug 31, 2016
    Share #3
  4. caringvij

    caringvij Active Member

    Joined:
    Aug 23, 2016
    Messages:
    65
    Likes Received:
    27
    SBI is a slow moving stock. How long will it take to reach 260?
     
    caringvij, Sep 1, 2016
    Share #4
  5. nirajshah

    nirajshah Champion

    Joined:
    Aug 17, 2016
    Messages:
    546
    Likes Received:
    302
    You don't expect huge moves on index stocks either

    Sent from my 504Q+ using DIY Technical Analysis mobile app
     
    nirajshah, Sep 2, 2016
    Share #5
  6. yankeedin

    yankeedin Responder

    Joined:
    May 3, 2012
    Messages:
    218
    Likes Received:
    90
    There is no guarantee that stock will reach 260, expecting it will hit 260 based on technical analysis.
    That is why we need to always respect SL.
     
    yankeedin, Sep 2, 2016
    Share #6
    nirajshah likes this.
  7. caringvij

    caringvij Active Member

    Joined:
    Aug 23, 2016
    Messages:
    65
    Likes Received:
    27
    True


    Sent from my XT1079 using DIY Technical Analysis mobile app
     
    caringvij, Sep 2, 2016
    Share #7
  8. nirajshah

    nirajshah Champion

    Joined:
    Aug 17, 2016
    Messages:
    546
    Likes Received:
    302
    So true.

    Sent from my 504Q+ using DIY Technical Analysis mobile app
     
    nirajshah, Sep 2, 2016
    Share #8
  9. yankeedin

    yankeedin Responder

    Joined:
    May 3, 2012
    Messages:
    218
    Likes Received:
    90
    By the way, even with small movement, this week was very good for me. I made handsome profit:D
    Capture.PNG
     
    yankeedin, Sep 2, 2016
    Share #9
  10. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,699
    Likes Received:
    1,940
    Party time.
     
    shabbir, Sep 3, 2016
    Share #10
    nirajshah likes this.
  11. yankeedin

    yankeedin Responder

    Joined:
    May 3, 2012
    Messages:
    218
    Likes Received:
    90
    Even the slow moving stock SBI hit target of 260
     
    yankeedin, Sep 6, 2016
    Share #11
    nirajshah and shabbir like this.
  12. nirajshah

    nirajshah Champion

    Joined:
    Aug 17, 2016
    Messages:
    546
    Likes Received:
    302
    Yes so true and market today was phenomenal
     
    nirajshah, Sep 6, 2016
    Share #12