Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it. – ALEXANDER ELDER
SBI
SBI is coming out with its results tomorrow and Stock has risen before the results from the low of 1886 to high of 2004 in anticipation of good results.
Only Concern about this rise is volumes, I have mentioned in above chart the rise from 1886 to 2004 has been backed with less volumes which means market participants are not convinced of the upmove and after results only volumes based trade will come.
Stoch has entered overbought region and any bad news and results as per market expectation will also lead to correction in SBI. Surprise results will lead to a rally on upside.
As such we will always trade on levels not on any news.
Buy above 2004...
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Rgds,
Bramesh
09985711341
http://www.brameshtechanalysis.com/
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