SBIN - Harmonic & Waves- Kissed 280 Target- Irregular Flat

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Previous Post - Harmonic Sell Below 288 for 280

Currently, looks as a irregular flat which is unfolding in wave-2 where possible test of 235-240 zone can be reality in couple of months as that zone has formed multiple supports so it will be of prime importance to us.

In future if 235-240 zone supports then we shall plan to buy "State Bank of India - Stocks- Nothing else"

Key Level- 297

Trading Strategy

Any bounce we will take sell with 297 as strict stops or we keep checking interim for unusual price behaviour-if any -I shall keep posting.

Next Support Zone - 274-275

Long Term Target for 235-240
Trade active: 11:23 Hrs 24th April2017

Last Price@282.50

We will not hurry here & want 280 to be taken out downside now to see the structure & shall decide to sell on the bounce so we will wait in current situation as Bank Index is strong.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
@AbhishekHSinghCMT , 299/- is the right price to take a short position if not let me know on which level you want me to take a short position with SL
AJAYSHARMA chandu_Trade
@chandu_Trade, . Are we making a leading diagonal in minute wave 1 of (1) of 1 in 3 . Then we are looking at a big one
Dear Abhichek , wave B look like an impulse in 1H chart . 241-262 ((i)) , 252 - 282 (iii) 264 - 298 ((v)). Pls check .
@AJAYSHARMA, Please spell my name correctly. Can be an impulse, but should not come below 262-263 lows.
@AbhishekHSinghCMT, Sorry 4 the spelling . Have full respect 4 u . I have doubts on my wave count . That (v) in 1 seems like an A B C . And the end of the minor 2 seems to be a W . Now we have an X wave in motion . Wave X never goes beyond the W wave . And please 4give 4 that typo on ur name . It was not intended at all . Ur one of the best I have seen who to stick to every rule and guideline of EWP .
@AbhishekHSinghCMT Sir,
very Nice Guidance.
On Monday I'll place a Bracket order of ( shorting price;283 to 285 with Stoploss of 3(i.e 288) rupees and target of 8(277) rupees )
any view on this bracket order ?
Thank You.
AbhishekHSinghCMT Harshavardanmsajjan
@Harshavardanmsajjan, Keeping Stoploss at 288 is doubtful - if it starts moving above 286 then likely it will take stops of 288. Our key & critical point now is 297 & we will wait to see what kind of bounce we get. You have already missed a move below288 which was updated in my last post -Harmonic Analysis going below 288 & became true or it was realised in 2nd attempt -infact 1st attempt I was out at 287.50 -later it bounced to 296 -I even suggested that we should take sell at the bounce some taking sell in that range was highly profitable as risk was only 3 points -5 points from highs of 299-300. Losing 5 points & gaining 15 points gives standard risk reward for Industry 3:1 & preferred one for taking any trades. You can never have a trade with zero risk. Markets are not risk - free investment. Risk Free Investments are FDs -invest & wake up after maturity but returns are not lucrative. If looking for higher returns then you have to take risk & also do not repent on taking losses as it will be a part & parcel of the trading game. Having said that- I don't say you take selfie on the railway tracks- in that case you are inviting trouble -I mean to say flux of buyers & sellers kill you if you fall in between. Finally, MArkets are not running anywhere it is we who lose our patience.
ramesrin42 AbhishekHSinghCMT
Hi Abhishek. Just wanted to give you a feed back on your good work . one small price of advice or request. Please post a fresh stock every Monday for trading for that week. It would be of great help.
@ramesrin42, Thanks. I will try my best.
Very good analysis sir. But will it come to 288 level again or I will short at Monday morning
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