SBI CARD Wave 1 Complete. Time for Wave 2 Decline. UPDATE!
Updated
If you check my Last Post on SBI Cards, I was Kind of Too Early to Call the Tops as the Wave count got Extended.
But even keeping aside Elliot Wave since its forecasting in nature and not that Accurate since Counts keep changing and there are always Alternate Count views.
So even going by Traditional Price Volume Action which is a LOT MORE Reliable than Elliot Wave theory.
SBI Cards showing Clear Signs of Distribution post the Earnings Gap Down. Head & Shoulders Top forming , also more Bearish Volume than Bullish Volume and more Wide Range Red Candles as compared to Green Candles. What else is Needed?
- Price is heading to find Support at 725 MINIMUM as a Bearish Target 1!
- It can Even go more Down as I've mentioned the Levels.
If you have Longs I suggest Exit. Since its not in FnO you can't Short so I'd suggest play this Bearish View Intraday in Cash MIS Selling
But even keeping aside Elliot Wave since its forecasting in nature and not that Accurate since Counts keep changing and there are always Alternate Count views.
So even going by Traditional Price Volume Action which is a LOT MORE Reliable than Elliot Wave theory.
SBI Cards showing Clear Signs of Distribution post the Earnings Gap Down. Head & Shoulders Top forming , also more Bearish Volume than Bullish Volume and more Wide Range Red Candles as compared to Green Candles. What else is Needed?
- Price is heading to find Support at 725 MINIMUM as a Bearish Target 1!
- It can Even go more Down as I've mentioned the Levels.
If you have Longs I suggest Exit. Since its not in FnO you can't Short so I'd suggest play this Bearish View Intraday in Cash MIS Selling
Note
Sell on Rise mode can be clearly seen in SBI Cards as its forming Lower Highs!Order cancelled
Seems to be some Change in Price Action. Market is Bullish so Shorts not working, better to avoid
Siddharth Bhansali
✔️Twitter Handle @T_Harth
✔️Twitter Handle @T_Harth
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