If any of you thinks that your money gets multiplied in Savings Account / Fixed Deposits with SBI, its Myth. But there is another way to make money with Banks... Obviously, thats what we do... Trading !
Simple Elliot wave with examples of how to trade elliot's effectively, thats what we are going to look at.
Past Setups :
Flag in Wave 1 - Gap Up open we lost the...
SBI is about to complete a 5 wave bullinsh cycle in an ED. One can look for shorting options as already it has made the high of around 270/- in the wave 3 of ED which corresponds to the 100% projection of wave 1 in the bigger cycle. Can the correction be a zig zizg ? Let's wait and watch. Also MACD has already started showing the bearish divergence.
It is been observed that ABC Zig Zag correction completed and Wave 1 and Wave 2 structured well that shows higher high. Now I observe that Wave 3 is in progress and it shall go upto 261 and retrace back to Wave 4 and then shall again move higher from 261 levels to make Wave 5. It is wise to buy after retracement or near Wave 4 levels.
As per technical pattern...
Neckline of this head n shoulders pattern is about to get breached and SBI is just hinging on slight support zone around there. We don't know how the markets gonna open today & Nifty also plays a part in opening,so it may be repelled up or can breakdown.We will enter this trade setup only if SBI has valid bearish close below 254 and when the price pierces into the...
Monthly Chart
State bank of India has completed triangle on a larger degree...bounce from 145--148 zone was the sweet spot for buying the equities.
In traditional analysis, C & E-Wave formed Double bottom....So, once D-Wave top@335 is taken out...SBIN will take 3rd Gear....A possible Thrust could be expected ....Up...Up..& Away....
On shorter version, it could...
New day but our frequent offender is back. Yes , its rising flag so we are expecting breakout to enter the trade in SBIN. Probably nifty will be the decider for SBI's direction today, so lets see
Happy Trading !
Its almost a month SBI is ranging completely within 223 - 235's, probably it may range for another week. If breakout happens expect that will be wild n crazy, in my opinion ( I may be wrong) - I expect there won't be any pullback. But conservative traders can opt to stay out, can enter if any pullback happens in SBI. Moreover Nifty is also caught in some...
It is been 4 weeks that the price action is been consolidating in the range of 223-233. I have observed that there is RSI Bearish divergence and MACD Bearish Cossover at this time but the trend is still up.(As you may see Green MACD's below in indicators) and also the price action is above 20 SMA that also signals uptrend.
Next Week, best time to take...
