Shortsetup
SBI CARD Wave 1 Complete. Time for Wave 2 Decline!Chart Data as of 25th Sept, 2020
A Classic Ending Diagonal/ Rising Wedge structure has marked the Completion of a 5 Wave Impulse
Elliot Wave suggests we are now in a Wave 2 Decline that can retrace this Wave 1 advance that just got completed
I have a Minimum Target of ~ 725 for this Decline.
Key Levels to Note:
T1= 725
700 psychological level
T2= 685
T3= 640
Where this Wave 2 Decline will Stop, I do not know but there is a High Probability that we will at Least meet Target 1 for this Downfall.
My Bearish View Negates if we make a New High above 868
Studies apart from EW such as:
Price Volume Action
RSI
MACD
ADX
......Are ALSO Confirming my Bearish Thesis, SO if you do not want Short at least I Will not be a Buyer till SBI CARD makes a new High.
Provide me Feedback and Support if you liked this Bearish Setup
Happy Trading :)
Bajaj Finserv OpportunityAfter a consolidation this stock broke the box at down side. Sellers can look for target of 5600 and buyers can look for opportunity of buying near 5600.
Volume indicating a downfall/offloading .
Keep an eye folks.
This is just my view not any recommendation. Trade with your own risk and be cautious.