Chart Context:
SBI Life has broken out above a long-term horizontal resistance at ₹1,786 after forming a rounded accumulation base over ~10 months. Breakout was confirmed with above-average volume and a successful retest.
Trade Setup:
Volume & RSI:
Strategy:
Initiate long with partial position now. Add on dips toward ₹1,775–₹1,780 with tight stop. Trail SL if price sustains above ₹1,850. Reassess at ₹2,050–₹2,100 zone.
Disclaimer:
Not a recommendation. This idea is based on technical patterns and is meant for educational purposes. Do your own due diligence.
SBI Life has broken out above a long-term horizontal resistance at ₹1,786 after forming a rounded accumulation base over ~10 months. Breakout was confirmed with above-average volume and a successful retest.
Trade Setup:
- Breakout level (neckline): ₹1,786.75
- Breakout candle close: ₹1,810.90 (+1.20%)
- Target: ₹2,200 (22% upside from breakout)
- Stop-loss: ₹1,745 (just below retest lows)
- Risk-reward: ~1:3
Volume & RSI:
- Volume > 20-day average
- RSI > 60 and rising, confirming strength
Strategy:
Initiate long with partial position now. Add on dips toward ₹1,775–₹1,780 with tight stop. Trail SL if price sustains above ₹1,850. Reassess at ₹2,050–₹2,100 zone.
Disclaimer:
Not a recommendation. This idea is based on technical patterns and is meant for educational purposes. Do your own due diligence.
Nota
Going in the right direction.
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.