CHART ANALYSIS OF A LIFE INSURANCE COMPANY

Hello friends, today we are going to do chart analysis of SBI life insurance company.

So first we open the SBI life chart on weekly timeframe and see the overall trend. The overall trend is bullish.


Then we move forward to see if there is any breakout. We can see there is a breakout at 1027 levels on the weekly chart with good volumes.

Now if we draw the trendline we can see there is a bullish ascending triangle pattern breakout.

How to find the target?

In an ascending triangle pattern the target is the length of height of triangle from breakout line. We use the price range tool in trading view and plot the target which is about 1520.

When to enter?

For medium term trading, we can enter at CMP and add at dips till 1090 levels with patience.


What should be the stoploss?

Stoploss should be 1010 closing basis.


Summary

Entry – at CMP and on dips till 1090

Target – 1520

SL- 1010 closing basis

RR ratio – almost 2:3

Time frame – 3 to 4 months


Disclaimer

All Views and Charts Shared in This Post Are Purely for Knowledge and Information Purpose Only. Our Post Is Intended Only to Provide General and Preliminary Information to Investors/Traders and Shall Not Be Construed as The Basis For Any Investment Decision Or Strategy, Our Content Is Intended To Be Used And Must Be Used For Informational Purpose Only. It Is Very Important To-Do Your Own Analysis Before Making Any Investment Based on Your Own Personal Circumstances.


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