state bank of india looks bearish in short term to medium term

٩ يوليو ٢٠١٧

head and shoulder pattern formed with a neck line around (281.5 - 280.5) level, which was a strong support also, which got broken later. Now price is retesting the broken level.

Here the pattern tgt - 256, and sl should be just above the right shoulder - 296.5 .

١٢ يوليو ٢٠١٧

تم فتح الصفقة

cmp - 283.55, in daily time frame, bearish engulfing is formed at trend line resistance, looks bearish.

١٤ يوليو ٢٠١٧

تم إغلاق الصفقة يدويًا

Looks like the underlying sentiment is changed from bearish to bullish, close above right shoulder will result in pattern failure