AbhishekHSinghCMT

SBIN- Avoid Emotional Attachment- Be Careful@285 Top

NSE:SBIN   STATE BK OF INDIA
7
At 285 -recent high- SBIN has measured the equality distance of wave-1. So, we should be careful in the current scenario as most likely- SBIN can end its upside sequence-1 of the larger wave from Triangle Bottom.

It's too early to say anything from smaller view which needs market reaction- to confirm whether it has put a short term top or not.

Is The First Leg in Triangle Done?
Trade active: 06:40 Hrs 11th Nov2016

Bullish Above 265 Mini Top

Trade active: 08:29 Hrs 16th Nov2016

Last Price@278

If this goes above 285 then SBIN can extend till 310-320 zones which is next likely target zone
Trade active: 08:57 Hrs 17th Nov2016

Last Price@277.65

Its not falling as expected likely suggesting that 5th wave could be sub-divided going above 289 -keep a watch on the counter as it could attempt for 300+ zone.




Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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