📊 SBI Life – Technical Setup (Refined with 2nd Inside Candle)
Range-Bound Consolidation (147 Days)
Stock has been consolidating in a broad 1,720 – 1,900 zone for nearly 5 months, even during weak market phases → shows strong resilience.
Inside Candle Formations
1st Inside Candle: Marked earlier at the initial breakout attempt.
2nd Inside Candle: Formed again near the neckline resistance (~1,845–1,850), signaling compressed volatility and possible breakout readiness.
Multiple inside candles near resistance indicate energy build-up for an impulsive move.
Support & Trend Structure
Strong support at 1,718–1,772 zone.
Major trendline intact and defended multiple times, confirming institutional buying.
Breakout Levels
A decisive close above 1,850 neckline resistance with volume will confirm breakout continuation → targets open towards 1,900 / 1,950 levels.
On the downside, 1,796 / 1,772 act as immediate supports; breach below 1,718 would negate the bullish setup.
📌Important levels
long Zone: Above 1,850 with strong volume.
SL: Below 1,772 (safe traders can keep below 1,718).
Targets: 1,900 → 1,950 → 2,020 (positional).
Range-Bound Consolidation (147 Days)
Stock has been consolidating in a broad 1,720 – 1,900 zone for nearly 5 months, even during weak market phases → shows strong resilience.
Inside Candle Formations
1st Inside Candle: Marked earlier at the initial breakout attempt.
2nd Inside Candle: Formed again near the neckline resistance (~1,845–1,850), signaling compressed volatility and possible breakout readiness.
Multiple inside candles near resistance indicate energy build-up for an impulsive move.
Support & Trend Structure
Strong support at 1,718–1,772 zone.
Major trendline intact and defended multiple times, confirming institutional buying.
Breakout Levels
A decisive close above 1,850 neckline resistance with volume will confirm breakout continuation → targets open towards 1,900 / 1,950 levels.
On the downside, 1,796 / 1,772 act as immediate supports; breach below 1,718 would negate the bullish setup.
📌Important levels
long Zone: Above 1,850 with strong volume.
SL: Below 1,772 (safe traders can keep below 1,718).
Targets: 1,900 → 1,950 → 2,020 (positional).
Pubblicazioni correlate
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.