Niftydirection

SBI Skewed Triangle 4th Elliot Wave

Long
NSE:SBIN   STATE BK OF INDIA
Stock currently in upward trend and may break upside.
Wave 4 has formed skewed triangle and about complete final Internal Wave E.

Long in the zones of 199-195 Stop loss 179 ( if hits loss will be ~10% of entry price) breaking 185 will be tough.
Targets for Wave 5 235(as per fib extension drawn between wave 2-3-4),245-250(aggressive)

Notable resistance 212 non risky can wait for break and close above this.

Disclaimer: Calculated and plotted values may differ little with actual stock movement. This investment/trade may not be suitable for all investors. Do your own study or ask your financial advisors before investing/trading.

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Trade active: Entry 17th Aug 293. Today 215 closed above resistance 215 looking to go up further

Comments

SBI If closes today above 212 then will start further upmove already up 10% from 195 level.
Reply
sbi share price must go above 250/-in one month
Reply
@geemeher9, can't comment on timeline but it could be possibility.
Reply
SBIN needs to cross 209 to continue the upward target?
Reply
@AMBRISH 212 is resistance then 235 250 possible. Keep SL mentioned above.
Reply
AMBRISH Niftydirection
@Niftydirection, Thanks for your reply.
+2 Reply
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