STATE BANK OF INDIA- Unlocking market secrets with Volume Profile AnalysisSep 20, 2023
We published about SBI Chart on 7th sep 2023 and predicted a possibility upside momentum in short term. Recently this stock has managed to hold its gain and gave more than 5% returns in less than 13 days of time and currently made a high near 608.
Below is the chart which shows a detailed analysis of State bank of India which helped us to predict this up move using Volume profile. We recommended this stock when it was trading near the 570 levels and was successfully able to catch the up move.
SBI ON HOURLY CHART ANTICIPATED ON 7TH SEPTEMBER 2023
SBI HOURLY CHART HAPPENED AS ON 20TH SEPTEMBER 2023
Volume profile is a tool in financial analysis that displays trading volume at various price levels over a specific time frame. It helps traders identify significant price zones and key reference points, where the most trading activity occurred. This information aids traders in understanding market sentiment and potential areas of support or resistance, guiding their decision-making process for buying or selling assets.
Happened: - This stock moved exactly as we expected. Currently SBI is trading near 600 level and currently made a high near 608 level. We recommended this stock when it was trading near 570 levels. Stock gave an impressive return of more than 5% in a span of 13 days.
Thus Volume profile is a trading tool that displays trading volume at different price levels, helping traders identify key areas of interest and market sentiment.
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