SBIN: Chart analysis, view and trading strategy

31 окт. 2022 г.

SBIN

We are looking at weekly chart of SBIN stock

Observations

- SBIN is yet to give a weekly closing above the Sept 12 - Sept 19 weekly high
- support at 554 / 545 / 530 zone

Given the set up

One can wait for SBIN to close and sustain above 579 on a weekly closing basis or for at least 3 days before taking for fresh long position
Otherwise 530-540 zone could be a better place to enter


Derivatives Strategy
One may consider a Bear Call Spread strategy in SBIN for November series

Sell 600 Call option
Buy 630 Call option

Net receivables 6 points
Lot size 1500

Max Profit Potential of Rs 9000 per strategy lot till 24 Nov 2022
Profit potential of 12.5% approximately on Margin requirement

Take care & safe trading...!!!

Like, follow, share for more trading ideas like these

Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be