Fake Break out Down Side. You Know What's Next ?#sbin has made a flag and pole pattern on the weekly timeframe, and formed a fake breakout also.
SBILIFE
SBI Life Insurance Co. Ltd. - Technical Analysis UpdateSupport and Resistance Zones:
1.Key Support Zone: ₹1,385-₹1,463
This zone aligns with the Fibonacci 0.236 retracement level and the recent reversal point, making it a strong support.
2.Immediate Resistance Levels:
₹1,555 (Fibonacci 0.382 retracement).
₹1,630 (Fibonacci 0.5 retracement).
₹1,705 (Fibonacci 0.618 retracement), a crucial level to watch.
3.Fibonacci Retracement Levels:
The stock has retraced sharply from its high of ₹1,943 and is showing signs of reversal near the 0.236 Fibonacci level. A breakout above ₹1,500 could confirm bullish momentum toward higher Fibonacci levels.
4.Volume Analysis:
Volume appears to be increasing near the support zone, indicating buying interest from market participants.
The Volume Profile indicates strong accumulation between ₹1,400-₹1,500.
5.Moving Averages:
The stock is attempting to reclaim the 20-day EMA as a dynamic support.
A crossover above the 50-day EMA could signal further bullish strength.
6.RSI (Relative Strength Index):
RSI is recovering from oversold levels, indicating a possible trend reversal. A move above 50 would strengthen the bullish case.
7.Projection:
If the stock sustains above ₹1,463, it could aim for ₹1,555 in the short term and ₹1,705 in the medium term.
A break below ₹1,385 would invalidate this view and could lead to further downside.
Conclusion:
SBI Life Insurance is poised for a potential bounce-back. Traders can consider entries near the ₹1,450-₹1,470 range, targeting ₹1,555 and ₹1,705 with appropriate stop losses below ₹1,385.
SBI Life Insurance Co. Ltd (NSE: SBILIFE) - Technical Analysis Price Action and Fibonacci Analysis
SBI Life is currently trading at ₹1,628.85, which is near a crucial Fibonacci retracement level:
1. Fibonacci Levels:
The price previously peaked around ₹1,935.10, forming a possible double-top pattern.
It has since retraced, approaching the 50% retracement level at ₹1,624.75, a significant support zone. This level often acts as a key point for potential rebounds.
Below this, the 61.8% level at ₹1,551.50 is the next major support. If the price declines further, this level could provide strong support.
2. Volume Profile:
The Volume Profile on the right suggests a high volume node around ₹1,450, indicating strong accumulation in this zone. This level, if reached, could serve as a significant support area and potential bounce point.
3 . Moving Averages:
The stock is currently trading near the 200-day moving average (black line), which may act as a long-term support level.
The 50-day (blue) and 100-day (red) moving averages are above the current price, indicating that the stock has broken below its short- and medium-term trend lines.
Technical Indicators
1. Relative Strength Index (RSI):
The RSI is showing signs of being in the lower half of its range but hasn’t reached oversold territory, suggesting there may be further downside before a potential rebound.
2. Volume Trends:
There has been a significant increase in volume during the recent pullback, indicating strong selling pressure.
Conclusion and Potential Scenarios
Bullish Scenario: If the stock holds the 50% Fibonacci level at ₹1,624.75 and the 200-day moving average, we could see a recovery toward the 38.2% level at ₹1,698.00, with further resistance at ₹1,788.60.
Bearish Scenario: A break below ₹1,624.75 could lead the price toward the 61.8% level at ₹1,551.50. A further decline might see the price test the high-volume node around ₹1,450.
Trading Strategy
For Long Positions: Watch for a bounce near ₹1,624.75 or ₹1,551.50 with confirmation from volume and RSI improving from lower levels.
For Short Positions: A breakdown below ₹1,624.75, particularly with strong volume, could present a shorting opportunity down to ₹1,551.50 or potentially lower.
Note: Always consider market conditions and use proper risk management techniques.
SBILIFENSE:SBILIFE
One Can Enter Now !
Or Wait for Retest of the Trendline (BO) !
Or wait For better R:R ratio !
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low.
2. R:R ratio should be 1 :2 minimum
3. Plan as per your RISK appetite and Money Management.
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
SBI Life Insurance Daily Timeframe Analysis for long
NSE:SBILIFE has bounced back from strong support level of 1375 to 1400 with highest volume over past 6 month.
Can go long above 1440 with SL 1380.
Major Targets Highlighted in Blue lines, sub targets in grey lines.
SBIN Long Trade setup in 15m TF using RisologicalSBIN Long Trade setup in 15m TF using Risological
SBIN profit target 1 done!
The dotted line on the Risological swing trader acts as the trailing stop of the trade.
The trade looks good and should reach the Target 4 within a few days, unless there is a bad reversal.
So, keep a close watch on the trailing stop and trade safely.
Descending Triangle Patter in SBILIFE For Target @1751+On the 1-hour timeframe, SBILIFE has broken out of the resistance level of a descending triangle pattern. This breakout is a significant technical event, suggesting a potential strong upside rally. Following this breakout, the price is expected to move towards the 1751+ level, indicating a bullish trend.
To capitalize on this movement, traders can consider entering a long position once the price sustain above the 1700 level. The targets for this position would be in the range of 1735 to 1751+, aligning with the anticipated upward momentum. It is crucial to manage risk by setting a stop loss just below the 1665 level, which will help protect against potential downside if the market reverses.
#SBILIFE Multi-year breakout stock #SBILIFE
Multi-year breakout stock
-Confirmed diagonal resistance Breakout after >4.5 years
-Continuous higher low formation
-Strong Increasing volume
Definitely worth to keep in watchlist; A retest on this stock can ignite interest for potential long.
SBILIFE Correction Time
Fresh Monthly Supply to fresh monthly Demand we have the Curve ready.
Now further in the lower timeframe we have a previous low violated and hence we se that the Sellers have come in Power.
Maybe just a little late to get inn but better late then never.
SBILIFE Breakout done after a Good Consolidation.
Volume looks good too.
Above all EMA.
Good for Short term and Long term.
Do Like ,Follow ,Comment for regular updates...
Disclaimer : This is not a Buy or Sell recommendation. I am not SEBI Registered. Please consult your financial advisor before making any investments . This is for Educational purpose only.
SBILIFE ready to Free fall ??SBILIFE Is ready to Free fall ??
SBILIFE is in a Rising Channel and Channel is Working from March 2023
Stock is around the resistance of the Rising channel.
Resistance zone is coming around 1560-1580
Stock can fall till 1420-1430
Strong Support is around 1420-1430
That would be the Best Buying zone !!
Disclaimer : We are not SEBI registered analyst. Do your own research before taking any investment decision.
SBILIFE - Bearish ViewSBILIFE - Elliott Wave count
the market seems like completed all 5 impulses and has begun correction. wave A expected to hi t the target of 1250 range.
Please note that this information is for educational purposes only, and it is crucial to trade with caution.
NSE:SBILIFE NSE:SBILIFEZ2023 BSE:SBILIFE
SBILIFE: A Promising Short-Term Trading OpportunityHello traders,
Today, let's set our sights on SBILIFE , a stock that's been on a consistent upward journey. Here's what you need to know:
Rising Trend: SBILIFE has been steadily moving in an upward direction, making it a compelling pick for traders.
Growth Potential: There's room for this stock to surge further, especially if it approaches near 1320 level.
Option Strategies: If you're an option buyer, consider 1350 or 1300 CE options. These could be strategic choices to explore.
Key Takeaway: It's important to note that this isn't an investment opportunity, but rather a trading prospect. If short-term moves align with your strategy, SBILIFE could be worth a closer look.
Your Strategy: Are you considering SBILIFE for your trading portfolio? Share your insights and thoughts with us.
Stay Updated: Keep following for more trading insights and opportunities.
Best regards,
Alpha Trading Station
My view on SBILIFESBILIFE
forming flag pattern
Above 1306-1310
Looking tgt 1335-1340.
If Cross 1340 it should be rocket as forming inverse Head & Shoulder pattern.
We are keeping on radar SBILIFE 1310 CE.
SBI Life close to breakout.SBI Life weekly chart. Has hit the 1330 resistance for the 3rd time in the past year. Are we going to see a breakout?
❤ & follow for more.
SBILIFEwe are looking SBILIFE Bullish move rapidly
Disclaimer:
Kind regards to all friends and members ,
Stock market investment is subject to 100% market risks. Our company is not a SEBI registered company. Please consult your financial advisor before investing. This is for learning and training purposes only. Market Traps administrators are not responsible for any financial gains or losses resulting from your decisions. You acknowledge that stock market investments are highly risky and that you understand the market risks involved. Hence any legal action is void.
SBILIFE--Resistance becomes Support??------->> the stock is trending upwards
-------->> Broken the trendline and no retest is observed.
--------->> If the previous resistance acts as support we will observe a bullish again to the trendline.
Previous resistance zone @1150 look here for buy side.
{SBI LIFE}:{Expecting Hike 17%, Explained as per Wave Theory}
Price has completed Wave 1 and 2 and as per the Fibo Extension Wave 3 is atleast till the Golden Level of 1.618 which is Rs. 1394.75
This is a Monthly chart.
ENJOY THE RIDE ! ! !
SBI LIFE INSURANCE BUY FOR 1:2.39
Price has reacted to a Demand in Higher timeframe and will go up till the Monthly Supply formed @ 1167.25
SBILIFE view for 21st FebSBILIFE view for 21st Feb
1130 below fall expectation...
Please follow strict risk reward and stop loss if you follow my levels...
Charts for Educational purposes only
Thanks,
V Trade Point
SBILIFE short view below 11301130 below again expecting some selling pressure in SBILIFE
Please follow strict risk reward and stop loss
Charts for Educational purposes only
Thanks,
V Trade Point
SBI LIFE view for today 17th feb1190 above if sustain then bullish view for today
SBI LIFE view for today 17th feb
Charts for Educational purposes only.
Follow strict risk reward if you follow the level
Thanks,
V Trade Point
