sbi cash nse daily
As drawn on nse SBI daily chart, price is within the coil like pattern. I cant say that ,'' it is a coil because it is not accurately measured but it can work.''
Above Rs 302 mark price will give confirmation of breakout from this pattern and we can expect first tgt of 312. If failed to cross and sustain above Rs 302 mark, it will return in triangle and continue its journey towards supportline of the coil. In this situation , assuming that,'' this happening will happen within next 2 - 3 days, price tgt on downside will be 280, where support line will give support.
We should watch nifty movement carefully because nifty is at resistance point. Read the chart carefully.
nifty daily
As drawn in nifty daily chart, index took resistance from resistance line and moved downward but took support from clouds resistanceline which is working as support line because of the rule of polarity. If nifty cross this resistance of 10910 and sustained above it, then SBI price also follow the suit and will cross 302 mark and spike towards Rs 312, which is our target.
So friends, trade accordingly, Jay Shriram.
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