SBI Life – Technical Setup (Refined with 2nd Inside Candle)

📊 SBI Life – Technical Setup (Refined with 2nd Inside Candle)

Range-Bound Consolidation (147 Days)

Stock has been consolidating in a broad 1,720 – 1,900 zone for nearly 5 months, even during weak market phases → shows strong resilience.

Inside Candle Formations

1st Inside Candle: Marked earlier at the initial breakout attempt.

2nd Inside Candle: Formed again near the neckline resistance (~1,845–1,850), signaling compressed volatility and possible breakout readiness.

Multiple inside candles near resistance indicate energy build-up for an impulsive move.

Support & Trend Structure

Strong support at 1,718–1,772 zone.

Major trendline intact and defended multiple times, confirming institutional buying.

Breakout Levels

A decisive close above 1,850 neckline resistance with volume will confirm breakout continuation → targets open towards 1,900 / 1,950 levels.

On the downside, 1,796 / 1,772 act as immediate supports; breach below 1,718 would negate the bullish setup.

📌Important levels

long Zone: Above 1,850 with strong volume.

SL: Below 1,772 (safe traders can keep below 1,718).

Targets: 1,900 → 1,950 → 2,020 (positional).