SBIN monthly analysis

Quarterly resistance is at 215.30 and Quarterly kijunsen at 220.3. It indicates less likely this month to close above this price. However strong support is around 203.5 to 186. So, for long term investors SBIN is positive till 186. Breaking of 186 will confirm the fifth wave continuation.

As per the 2nd wave starting point 345 which was .68 retracement it should have touched 136 but it reversed from 149. And when it was supposed to touch 240, 4th wave completion it returned from 230. So, to confirm the downtrend break of 186 is necessary and SBIN will be positive till it is above 186.

Comment:

i see some viewers are feeling irritated of this knotty chart. in the chart there are a number of indicators I use for myself to read the market status. I have to recreate all the indicators once I delete it. So, sorry for all those who feeling irritated and I request them to follow the parallel channel or read my levels.

And thank you all for your beautiful suggestions and love

Comment:

Finally it did what it shouldn't do. And broken 186.