SBILIFE is currently testing a critical second bottom at 1768–1775. This is a classic high-probability reversal zone after a deep correction from highs.
Best Trade: Buy on confirmation near 1770–1780 with tight SL below 1735.
Targets up to 2000–2150 offer excellent upside with favorable risk-reward.
Current Stance: Accumulate on dips holding support. High conviction setup if it holds the second bottom.
Aggressive Entry (for active traders):Enter near current levels 1765 – 1775 on signs of reversal (bullish engulfing, hammer, or strong green candle with volume).
Safer Entry (recommended):Wait for confirmation breakout above 1820–1830 (neckline of the potential double bottom / recent swing high).
This reduces risk of false bottom.
Stop Loss (SL)
Initial SL: 1735 – 1740 (below the second bottom low — gives some breathing room for volatility).
Trail SL to breakeven once price moves +3–4% in your favor.
Move SL to 1780–1790 once it clears 1850.
Trade safe — always use proper position sizing and respect the stop loss.
Best Trade: Buy on confirmation near 1770–1780 with tight SL below 1735.
Targets up to 2000–2150 offer excellent upside with favorable risk-reward.
Current Stance: Accumulate on dips holding support. High conviction setup if it holds the second bottom.
Aggressive Entry (for active traders):Enter near current levels 1765 – 1775 on signs of reversal (bullish engulfing, hammer, or strong green candle with volume).
Safer Entry (recommended):Wait for confirmation breakout above 1820–1830 (neckline of the potential double bottom / recent swing high).
This reduces risk of false bottom.
Stop Loss (SL)
Initial SL: 1735 – 1740 (below the second bottom low — gives some breathing room for volatility).
Trail SL to breakeven once price moves +3–4% in your favor.
Move SL to 1780–1790 once it clears 1850.
Trade safe — always use proper position sizing and respect the stop loss.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.