SBI Beaking Upward channel. May test 38.2% retracement level
SBI is entering a congestion zone and a strong resistance at 265 levels.
It is also taking a support at the 23.6% retracement.
But it may break and go below this to test the 38.2% retracement levels which is at 225.
Go short now. Or can wait till 243 levels to get confirmation that the price is going below the 23.6% retracement levels.
Target = 225
SL = 270 (which was the recent highs)
It is also taking a support at the 23.6% retracement.
But it may break and go below this to test the 38.2% retracement levels which is at 225.
Go short now. Or can wait till 243 levels to get confirmation that the price is going below the 23.6% retracement levels.
Target = 225
SL = 270 (which was the recent highs)
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