SBI Card, Technical Outlook 21May
Updated
The degree and nature of separation in both bands indicates the start of a downtrend.
But the price has been trapped in the Darvas Box. So the breakdown of the box confirms the downtrend. And a short trade with a R/R - 1/3 can be planned with a stop loss of 724 if breakdown happens with momentum.
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
But the price has been trapped in the Darvas Box. So the breakdown of the box confirms the downtrend. And a short trade with a R/R - 1/3 can be planned with a stop loss of 724 if breakdown happens with momentum.
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
Comment
NO change in the structure.The price is following the same pattern.
Comment
The price could test the level of 693 and if broken then we see the levels of 680.Trade closed: target reached
A target of 693 is achieved. Also the breakdown of the 693 has opened the levels of 680.
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