This is the technical analysis on monthly basis. With the steep rise in SBIN share price, the price will correct. Using the fibonacci retracement the following are the 3 recommended orders with targets and stop losses:
1. Buy: 30% capital at 448 with target at 600 and sl at 250 (level 1)
2. Buy: 30% capital at 392 with target at 518 and sl at 250 (level 2)
3. Buy: 40% capital at 335 with target at 448 and sl at 250 (level 3)
The price will not go below level 1 but in case it does, the targets can be improvised for level 1 (same targets for level 2 and level 3). If the price goes below level 2, improvise level 1 and level 2 targets (keep level 3 target same). If the price goes below level 3, improvise all 3 targets. Keep the sl fixed in all cases.
1. Buy: 30% capital at 448 with target at 600 and sl at 250 (level 1)
2. Buy: 30% capital at 392 with target at 518 and sl at 250 (level 2)
3. Buy: 40% capital at 335 with target at 448 and sl at 250 (level 3)
The price will not go below level 1 but in case it does, the targets can be improvised for level 1 (same targets for level 2 and level 3). If the price goes below level 2, improvise level 1 and level 2 targets (keep level 3 target same). If the price goes below level 3, improvise all 3 targets. Keep the sl fixed in all cases.