SBI : High momentum trend
Scrip is almost about to breakout from 52-week high and aiming towards newer highs with more momentum, this time. Body height (BH) of candlesticks showing the way
BULLISH TREND
1) Golden cross - As marked in chart, Short-term moving average (such as the 15-day moving average) has already crossed above its long-term moving average (such as 50-day moving average) The golden cross indicates a bull market on the horizon and is reinforced by high trading volumes which is already seen
2) In a high momentum trend, Often long bodies with small wicks and volume major increase during past few sessions. % of Deliverable Quantity to Traded Quantity is also more than 20% so no chance of manipulations
3) SBI being the major beneficiary for recapitalization push so it is surely attracting more long term investors
thewire.in/190554/explained-great-indian-bank-recapitalisation-push/
BULLISH TREND
1) Golden cross - As marked in chart, Short-term moving average (such as the 15-day moving average) has already crossed above its long-term moving average (such as 50-day moving average) The golden cross indicates a bull market on the horizon and is reinforced by high trading volumes which is already seen
2) In a high momentum trend, Often long bodies with small wicks and volume major increase during past few sessions. % of Deliverable Quantity to Traded Quantity is also more than 20% so no chance of manipulations
3) SBI being the major beneficiary for recapitalization push so it is surely attracting more long term investors
thewire.in/190554/explained-great-indian-bank-recapitalisation-push/
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