Updated

SBI - Long Term Investment Idea

SBI iS BELOW a crucial resistance levels.

Strategy used : Support Resistance levels and Trendlines

SBI near a crucial resistance levels
750-770 level.

CMP: 756
Current support levels 750 are broken and acts as resistance.
Investment idea:
50% - When crossing 762
if 610 levels are tested due to sudden spikes and rebounds, invest 50 % of the funds

Key points:
Q3 results are expected on 31st Jan 2025.
Upcoming Budget on Feb 01 2025

Support resistances - refer above.

This idea will be for long term and will be updated regularly

Note: Not a SEBI registered analyst. Plan and trade as per your analysis

Trade active

Entry 1 executed at 762

Trade active

Note

update: Q3 results date : 6th Feb

Note

After the entry at 762, the pric moved to 780 but, had rejection
Will wait for budget and the results on 6th feb to decide any correction

Note

Due to budget , the market could be volatile and if not meeting expectations , could bring down the prices.

As i will not be in the terminal for the day, i had put 50% of the stop to cost just to make sure there are no major drawdowns

Note

50% SL exited at cost

Currently in downtrend. but, can wait until price reached 690-700 levels and if rebounds.

Note

Entered above 700 on rebounce.
And, closed at 760.
Wait for next trades until April second week

Trade closed: target reached

Second trade target reached.
Closing the idea

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