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.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.