Here is the link - https://share.gvine.app/d85jqVYD85t9hqCSA
I made that post on a whim. I added this here just to let you know that i have SKIN IN THE GAME. I know the ***t i am talking about and i am not going to be just blabbering.
This is going to be a long read.
India is at the cusp of doing something very special and there is an opportunity to make massive wealth in the next 2 decades. I feel every working professional should look up to equities and get educated if possible.Â
If you have no idea of technicals, read this with an open mind, it might give you a new perspective. Technical analysis has a lot more to it than whatever you see normally on YT.
Many fundamental guys say that technicals are mumbo jumbo and it doesn't work. I know someone with over 100 cr of trading account who has built his career using both. I also know someone(Not directly but through someone) with 3000 crore ++ total portfolio and he uses technicals as well. It does work in the market it's just that you should know how to use it.
----------------------------------------------
SBI has a very interesting Long term Structure developing. Here is how i am looking to go long in this Counter. [WEEKLY TIME FRAME].
If you see on the chart there are 2 trough points (curve marked in blue). First curve low point was at 500, 2nd curve low point was at 550. This is a volatility contraction. Volatility decreases, leading to smaller price swings. During 2nd price swing (B) look at the dip in volume when price moves lower. Supply is getting absorbed. The seller was not able to push the price lower and the stock bounced back again. Contraction gets smaller and smaller, sellers are losing control.
(There is so much to explain about VCP but i will have to deviate from the topic. I cannot emphasize enough how much money i have made trading this VCP and combining it with other filters . Look into it.)
cont.
REST OF THE ANALYSIS IS IN THE COMMENT SECTION.
