UnknownUnicorn4154277
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SBI Cards and Payments Ltd - Elliot Wave

NSE:SBICARD   SBI CARDS & PAYMEN
SBI Cards made a low till 500 in 26 May and took a rally till it all time high of 794 this week. It has created a perfect elliot wave pattern. Now it formed Wave 5. Open for suggestions and improvements... :)

Comments

Friend's, have u observe delivery stock of daily trading, it is about 38%, my observation is price of share will sudden down in next month & trading near 680 Rs. average
+1 Reply
Wave 3 should be long + wave 4 should not break wave 1high but in given chart both are not clear
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Bogus stock....
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I think 3rd wave should be atleast 161.8% retrenchment levels. Elliot wave is negated in this case.
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One of the Elliot waves rules for impulse structures is - Wave 3 cannot be the shortest of 1, 3 and 5. So your counts are incorrect.
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With chart sentiments also psychological effect is dominant i dont think it breaks level of 720 or 700 ...it will consolidate and after that aggressive rally will come..my call is buy..a
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LAABHAM ronakpatel93007
@ronakpatel93007,

This evaluation seems to be more justifiable. It will come near to 720-700, after which an upward rally is apparent.
+1 Reply
This is possible only if it breaks 725 level
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Please clarify me, as I understood, the wave does not look to be impulse,since wave 3 is not the longest wave, which is the rule for an impulse and the wave does not look to be a wedge as well, to anticipate a reversal/corrective wave.

I am really new to EWA and learning. If my question is wrong please don't mind. In case my understanding is wrong, please clarify me.
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