-the momentum with which sbi has comeback is strong -it is seen in the past that whenever the stock moves above 290 on closing basis -we see a fresh move towards 320-340 -the way that sbi bounce from its 20-ema on daily chart -three days of negative action taken out by a single bullish engulfing bar -one can entery longs near 296-292 -enter a stop near...
NSE:SBIN crossed the resistance line. Headed towards 310-330.
SBI - need to wait for close above "green" trendline.
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.