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Niftydirection
Aug 16, 2020 8:50 AM

SBI Skewed Triangle 4th Elliot Wave Long

STATE BK OF INDIANSE

Description

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