Kruti0210

What will happen with SBI?

Short
NSE:SBIN   STATE BK OF INDIA

We have a Leading Diagonal which makes Wave 1;


We have a Type 1 Zigzag here and Wave 5 completes the Upward Impulse move and now will start the Correction;


In correction we have Waves A; B and C
This is Wave A.


This completes Wave B
Now we will check how much the Wave B has retraced into Wave A; that will tell us what will form in Wave C;


So we see that Wave B has retraced Wave A by more than 100% which confirms the Correction structure that is forming is a Downward Flat correction structure; therefore Wave C will be a 5 Wave downward Impulse;


So we are having a 5 Wave downward Impulse where Waves 1, 2, 3 are complete and Wave 4 is onn; we will verify in the Lower Degree what structure is forming in Wave 4; After Wave 4 ends we will have one more downward Impulse in Lower Degree which will be Wave 5 and hence will complete Wave 1 of the Downward Impulse; then Wave 2 in Upward direction;


This is a good short Trade will give the Put Price when the Upward ABC structure completes;




Comments

very deep and clear explanation Kruti Didi
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