SBIN- Avoid Emotional Attachment- Be Careful@285 Top

AbhishekHSinghCMT Updated   
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

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle

Telegram Handle

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.