SBI - LT Investment BUY @ 240 levels Long

STATE BK OF INDIANSE

Description

⋅ Feb 10, 2017 9:34 AM

A super clean chart.
1 leg of uptrend ended in Nov 2010 . Broad sideways Normal flat correction for 5+ years till Feb 2016.

A new uptrend started with a clean 5 waves either completed OR being completed. After which wave 2 correction should start.

Entry point is 240..levels approximately.

Strategy is to BUY the stock below 245 levels to ride the next significant uptrend.

Comments

topnifty

⋅ Mar 15, 2017 10:51 AM

- have marked an alternative count conisdering the current bullishness in overall market

raghavendrakumart

⋅ Mar 15, 2017 3:40 PM

@topnifty,

The form of the 4th wave..doesnot look apt..."b" waves should be time consuming..and 5th should be swift... I continue to stick with my label as primary..and below is the alternate view..i have

The end of "a" where i have in my week chart..becomes the 2nd and then 3rd has started..

topnifty

⋅ May 11, 2017 10:14 AM

@raghavendrakumart,

Going with previous count, ending diagonal in 5th wave

raghavendrakumart

⋅ May 12, 2017 4:25 AM

@topnifty,

Dear Sir....dont think its an ending diagonal...what if its a leading diagonal as 3.1 ? :)

topnifty

⋅ May 12, 2017 4:28 AM

@raghavendrakumart, Yes. Possible. IIango sir top notch touch

raghavendrakumart

⋅ Feb 12, 2017 6:47 AM

@joel-vg, For an investment buy..i like to stay far away from the price as the holding period is much longer and the charts look clean as well. Apologies, not zooming in further...the chart looks good to me to return a 100% as long as price holds the key retracements in 2nd wave.

joel-vg

⋅ Feb 10, 2017 11:40 AM

Thanks a lot for the weekly chart - can you please zoom with an hourly chart labelling for a further insight if possible ?