The following parameters are measured: "B" is less than 61.8% 2.61.8 BC projection @ 243 1.618 AB = CD at 237.5 1.27 AB = CD at 226 1.13XA retracement already done. Reversal target can be utilized as 218 OR 226 ? Reversal zone 243 or 237.5
SBI has underperformed compared to Bank Nifty. It is likely to expect that we can see some good momentum in SBI in the coming weeks. 225 is strong resistance as of now. This stock is certainly not a pick for the long term horizon. CMP - 200 Target - 225 Position Type - Swing
Prediction was make at The perfection of State Bank of India... 30 points prediction was prefect match with my previous posted idea. This is just wave counting process. Traders can enjoy it. If you have any questions regard to the Wave Counting, leave the comment. I will reply you.
forming zig-zag where Wave B retraced from 68% of Wave A. wave can retrace upto 50% but 38 % is 230. so for we can buy it @ cmp for target 230. and then it will move for wave 5.
I have applied the Elliott Wave Pattern. The third wave is including a contracting triangle, and the fifth wave is including an ending triangle. Hence, the State Bank of India's (SBIN) cycle of the corrective wave started after the fifth wave. There are two scenarios if it crosses 61.8% , C will be around 205 , and if it does not crossover the retracement level...
State Bank of India at ₹100 ? This is a very real possibility if the elliottwave pattern on the long term SBI charts indicated above are right. As can be seen, the 2015 - mid 2019 overlapping but upward titled move can be charted to indicate a long term ending diagonal. The subsequent downmove is clearly impulsive and has now just completed the 4th wave upward...
Profit Booking zone vs Safe zone