SBIN to breakout: Much above support and far below resistance.
Hello Traders, this one is positional trade strategy.
SBIN is trading at verge of breakout level. Its above support line with no trend reversal signs, but far below resistance.
If it picks momentum and breaches 202, be prepared to reap profits. Enter/Buy the stock which is on journey to 244. On crossing 248, it will head towards 280.
These levels are expected to be reached in sudden jerks. Thus I suggest positional trades here.
Entry 204, Target: 244-248-280.
No SL required for positional traders.
Entry: 206, SL: 202.50, Target: 224-230-244 for Intraday traders.
Intraday traders should enter only when they see great momentum from 201-204.
SBIN is trading at verge of breakout level. Its above support line with no trend reversal signs, but far below resistance.
If it picks momentum and breaches 202, be prepared to reap profits. Enter/Buy the stock which is on journey to 244. On crossing 248, it will head towards 280.
These levels are expected to be reached in sudden jerks. Thus I suggest positional trades here.
Entry 204, Target: 244-248-280.
No SL required for positional traders.
Entry: 206, SL: 202.50, Target: 224-230-244 for Intraday traders.
Intraday traders should enter only when they see great momentum from 201-204.