SBIN : Elliot Wave

Following up on my Divergence idea where I predicted a bullish breakout; the breakout is clearly following Elliot waves as indicated on the chart.
On the last idea, I have already predicted the wave 4 as you can see in the updates.
Gear Up for wave 5 with Targets in excess of 196:
T1-196, T2-198, T3: 200

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Comment:

Consolidating market overall - NIFTY bouncing between S&R. I will hold my position. Switching to SBIN Futures

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Positive news about disengagement in Ladakh. Staying In; SL updated to 190

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holding positions overnight

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Market appears bullish overall - T1 should be in sights.
Ill be 'cautious if there is a large gap up opening tomorrow!
Also last Thursday of June will also play a role in dictating profit bookings and market direction.

Trade closed: target reached:

Closed at 194.5
I don't like Gap Up Openings.

Will buy on Dips - July 200 CE Options

Comment:

Bought them at 10.65
will hold them till July with a SL of 8

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I believe this was the real wave 4 governed by the gap-up opening and June expiry - The wave 5 is still coming ! Could be my bullish bias talking.

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"The stock market is a device for transferring money from the impatient to the patient." - Warren Buffett.