SBIN update- formation of a wedge

SBIN has just missed its 4th wave by 4 points to make its ED or wedge invalid. So, till now, it is safe to say SBIN will move towards 313/15 in three wave move for a fall. This will be again invalid if it moves further 316, but still it will be a reversal point for another two reasons=

1. Formation of a triangle
2. Major support at 315/16 level
Jan 18
Comment: Close but still pattern is valid. Took support at 294
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