ANALYSIS
STATE BANK OF INDIA (SBIN) is showing signs of a potential bullish swing reversal following a prolonged correction.
The setup combines Williams %R (10) momentum recovery with a breakout above the Monthly VWAP and present week's high.
W%R (10) has moved above the critical -65 zone, indicating a recovery in momentum from weaker levels.
The current W%R reading is around -50.86, suggesting improving buying momentum.
Price is consolidating around the Monthly VWAP near ₹952.88.
A decisive daily candle close above ₹957.70 would confirm the proposed breakout alignment.
The setup remains conditional until price closes above the breakout level.
Risk Observation: A rejection near ₹957.70 could result in further consolidation. A sustained breakdown below ₹945.80 would weaken the proposed bullish setup.
KEY TECHNICAL LEVELS
Monthly VWAP: ₹952.88
Breakout Confirmation: ₹957.70
W%R (10): -50.86
W%R Momentum Threshold: -65
Primary Support: ₹945.80–₹948.00
MAJOR MOMENTUM SIGNAL
W%R moving above -65 indicates improving momentum, but it does not independently confirm a trend reversal.
Price holding above Monthly VWAP would strengthen the bullish interpretation.
A daily close above ₹957.70 would align price action with the momentum recovery.
Volume expansion during the breakout would provide additional confirmation.
TRADE PLAN
Entry Trigger: Daily candle close above ₹957.70
Entry Zone: Above ₹957.70 after breakout confirmation
Stop Loss: ₹945.80
Target 1: ₹999.10
Target 2: ₹1,013.70
Target 3: ₹1,031.30
Trade Management: Wait for the daily candle to close above the breakout level. Avoid chasing an unconfirmed intraday move. Reassess the setup if price loses the support zone, and adjust position size according to the risk per share.
RISK–REWARD ANALYSIS
Entry Reference: ₹957.70
Stop Loss: ₹945.80
Risk per Share: ₹11.90
Target 1 Reward: ₹41.40 — approximately 1:3.48 risk–reward
Target 2 Reward: ₹56.00 — approximately 1:4.71 risk–reward
Target 3 Reward: ₹73.60 — approximately 1:6.18 risk–reward
Risk–reward calculations use ₹957.70 as the entry reference. Actual results will vary with the execution price, slippage and stop-loss execution.
BULLISH BREAKOUT SEQUENCE
₹945.80 Support → ₹952.88 Monthly VWAP → ₹957.70 Breakout → ₹999.10 → ₹1,013.70 → ₹1,031.30
Holding above support preserves the proposed setup.
A close above Monthly VWAP and the weekly high strengthens the bullish case.
Sustained follow-through after the breakout is needed to validate the higher targets.
ANALYTICS VERDICT
Stock: SBIN — State Bank of India
Timeframe: Daily (1D)
Setup: Potential bullish swing reversal
Momentum Indicator: Williams %R (10)
Monthly VWAP: ₹952.88
Breakout Level: ₹957.70
Stop Loss: ₹945.80
Target 1: ₹999.10
Target 2: ₹1,013.70
Target 3: ₹1,031.30
Setup Invalidation: Sustained breakdown below ₹945.80
Final confirmation: SBIN is developing a potential bullish swing setup supported by improving W%R momentum. A decisive daily close above ₹957.70, supported by price holding above Monthly VWAP, would strengthen the case for a move toward ₹999.10, ₹1,013.70 and ₹1,031.30.
Disclaimer: aliceblueonline.com/legal-documentation/disclaimer
STATE BANK OF INDIA (SBIN) is showing signs of a potential bullish swing reversal following a prolonged correction.
The setup combines Williams %R (10) momentum recovery with a breakout above the Monthly VWAP and present week's high.
W%R (10) has moved above the critical -65 zone, indicating a recovery in momentum from weaker levels.
The current W%R reading is around -50.86, suggesting improving buying momentum.
Price is consolidating around the Monthly VWAP near ₹952.88.
A decisive daily candle close above ₹957.70 would confirm the proposed breakout alignment.
The setup remains conditional until price closes above the breakout level.
Risk Observation: A rejection near ₹957.70 could result in further consolidation. A sustained breakdown below ₹945.80 would weaken the proposed bullish setup.
KEY TECHNICAL LEVELS
Monthly VWAP: ₹952.88
Breakout Confirmation: ₹957.70
W%R (10): -50.86
W%R Momentum Threshold: -65
Primary Support: ₹945.80–₹948.00
MAJOR MOMENTUM SIGNAL
W%R moving above -65 indicates improving momentum, but it does not independently confirm a trend reversal.
Price holding above Monthly VWAP would strengthen the bullish interpretation.
A daily close above ₹957.70 would align price action with the momentum recovery.
Volume expansion during the breakout would provide additional confirmation.
TRADE PLAN
Entry Trigger: Daily candle close above ₹957.70
Entry Zone: Above ₹957.70 after breakout confirmation
Stop Loss: ₹945.80
Target 1: ₹999.10
Target 2: ₹1,013.70
Target 3: ₹1,031.30
Trade Management: Wait for the daily candle to close above the breakout level. Avoid chasing an unconfirmed intraday move. Reassess the setup if price loses the support zone, and adjust position size according to the risk per share.
RISK–REWARD ANALYSIS
Entry Reference: ₹957.70
Stop Loss: ₹945.80
Risk per Share: ₹11.90
Target 1 Reward: ₹41.40 — approximately 1:3.48 risk–reward
Target 2 Reward: ₹56.00 — approximately 1:4.71 risk–reward
Target 3 Reward: ₹73.60 — approximately 1:6.18 risk–reward
Risk–reward calculations use ₹957.70 as the entry reference. Actual results will vary with the execution price, slippage and stop-loss execution.
BULLISH BREAKOUT SEQUENCE
₹945.80 Support → ₹952.88 Monthly VWAP → ₹957.70 Breakout → ₹999.10 → ₹1,013.70 → ₹1,031.30
Holding above support preserves the proposed setup.
A close above Monthly VWAP and the weekly high strengthens the bullish case.
Sustained follow-through after the breakout is needed to validate the higher targets.
ANALYTICS VERDICT
Stock: SBIN — State Bank of India
Timeframe: Daily (1D)
Setup: Potential bullish swing reversal
Momentum Indicator: Williams %R (10)
Monthly VWAP: ₹952.88
Breakout Level: ₹957.70
Stop Loss: ₹945.80
Target 1: ₹999.10
Target 2: ₹1,013.70
Target 3: ₹1,031.30
Setup Invalidation: Sustained breakdown below ₹945.80
Final confirmation: SBIN is developing a potential bullish swing setup supported by improving W%R momentum. A decisive daily close above ₹957.70, supported by price holding above Monthly VWAP, would strengthen the case for a move toward ₹999.10, ₹1,013.70 and ₹1,031.30.
Disclaimer: aliceblueonline.com/legal-documentation/disclaimer
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.