We are facing a stiff resistance upside at 10925/30 level and strong floor at 10860/40 level. The bulls manages to push the price up at 10860/40 level and closing is near high every time, this shows some bullishness. It's always had been a great opportunity to buy at 10840 level. We would again buy at the support if it holds above 10840 , below that we could see ...
SBIN has just missed its 4th wave by 4 points to make its ED or wedge invalid. So, till now, it is safe to say SBIN will move towards 313/15 in three wave move for a fall. This will be again invalid if it moves further 316, but still it will be a reversal point for another two reasons=
1. Formation of a triangle
2. Major support at 315/16 level
Biocon might have completed wave y. Biocon is facing multiple Fibonacci resistance (Fibonacci cluster). Short below 641 for target 634/24 with sl 648.
Ignore Fibonacci levels on the chart. I have published it in quite unprofessional manner, apology for the same. Thank you:)
Considering end of wave e(triangle at 10864 level) and wave 1 completed today, we may get good opportunity to ride wave 3 by shorting at 10780 to 10825 level where wave 2 might complete. Keep Sl 10924, technically SL will be 10865 but if triangle has not yet completed and still in WXY pattern then 10924 will be the SL. We will keep alternate waves in mind while ...