SBI - 1 Hr- Elliott Wave

KunalSaxena10 Updated   
Here is the Elliott wave analysis of SBI on 1 Hr Tf, the following are the inferences.

1. Security is in the downtrend.
2. Wave C is getting completed, major correction is going on.
3. Wave C is generally impulsive in nature, i.e results in sharp correction either time/price-wise.
4. First target already achieved.
5. 2-3 targets marked with fib projections.

It might also change direction for an up-move, but that will be a sell-on-rise opportunity until a proper impulse starts upwards.

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Please don't treat this as trading advice.
Trade closed: target reached


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