1. currently trading between 100 and 200 candle SMA . seems like 200 reject price and in past we don't have such good support at lower level near 50 SMA so retest that level we can short sell this one. Target is 61 % then SMA of 50.
1. March was clear indication of reversal now as we turned to touch previous highs we have 117.4 as high of February. stay may go upward or not but there i high chances to go to this level because before going downward it still require to test this level so we are trageting 117.4 in 1 or 2 days
2. before heading to 117.4 there is little correction on gann square ...
With weakness of overall market it may plunge down to retest some recent level on down side.
be careful it can retrace 61% in morning and head back to downside.
Entry in morning after breakout near 70 and Target 67 .
1. It made bearish engulfing candle with closing of last month.
2. After engulfing candle there was good follow through. all depends on closing price of March.
3. in short term we expect 61% retracement which is nearby 9600 zone. ( its not shown in chart by fib tool.)
4. Gann fan clearly indicating big fall towards 9500 if march's closing is on down side.
SBIN seems on bullish side for more sometime but currently its facing resistance and it has to retest previous months high and 200 days SMA (orange line ). there is measured move also calculated from previous impulse wave and after measuring that . there is chances of toucing 308. its on bull side so we can expect 100% otherwise we will keep swinging in this wedge .
1. start of elliott wave at 0 its a second top of chart in very large scale which indicating its bearish in very large scale
2 lower trendline is very strong trendline of its time and tested very well in past . so there is no question its a very strong support level
3 price are on a wedge from long time a month ago it tried to breakout but failed . and trader wam ...