SBI, sitting on the support level, Next possible scenarios
Hi Guys,
As you can see from the charts that SBIN is just sitting on the support level, And kind of working on Triangle waves formation which can take a while. Generally, it breaks out in the direction of the previous trend which was an uptrend. Triangle formation basically shows a pause the trend when it completes the trend resumes in the same direction.
Price- 291.65
Target is 350
stop below 280
As you can see from the charts that SBIN is just sitting on the support level, And kind of working on Triangle waves formation which can take a while. Generally, it breaks out in the direction of the previous trend which was an uptrend. Triangle formation basically shows a pause the trend when it completes the trend resumes in the same direction.
Price- 291.65
Target is 350
stop below 280
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