ShreeKrishna
Short

Failure of 3rd Impulse wave

NSE:SBIN   STATE BK OF INDIA
96 views
2
96 0
After it Made an Impulse leg of wave 1 & successful pull back of wave 2 toward ascending trend line tag + Bounced for Impulse wave 3
Its appears that there was huge fundamental issues during its 3rd impulse leg ,
or it may be considered as imbalance in Price to Premium ( Asset Book value to Market Premium ) where book value fall shorter than the Market Price ( Premium )
and it started correction , since then we have to count it as failed Momentum , failed to reach 161.8% of market sentiments
Now its in complex correction of larger Pattern A B C which are Labeled in Yellow Color and internal are sub divided in 3 wave pattern labeled in blue color
Now i am considering its in regular flat position ( One of Corrective pattern in Elliott wave Theory) it will likely to correct for down ward move form this
Price point view
One can look for entering short position in Futures , and can roll over for next couple of month until this correction pattern completes
its about to began a strong move downward
Enter with pre-defined stops
Good luck
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out