SBILIFE - Elliott Wave count
the market seems like completed all 5 impulses and has begun correction. wave A expected to hi t the target of 1250 range.
Please note that this information is for educational purposes only, and it is crucial to trade with caution.
NSE:SBILIFE NSE:SBILIFEZ2023 BSE:SBILIFE
------->> the stock is trending upwards
-------->> Broken the trendline and no retest is observed.
--------->> If the previous resistance acts as support we will observe a bullish again to the trendline.
Previous resistance zone @1150 look here for buy side.
Price has completed Wave 1 and 2 and as per the Fibo Extension Wave 3 is atleast till the Golden Level of 1.618 which is Rs. 1394.75
This is a Monthly chart.
ENJOY THE RIDE ! ! !
The stock has created a good base at the level range of 1016 levels.
As you can see the stock has taken support around this area and moved upwards.
It reached a high of 1293levels before crumbling to huge selling pressures.
The stock is trying to make its way back to the top.
I have presented my views on the chart with levels that can help you take your...
Sbi life bouncing back from a strong support zone.
It is a risky trade as the market is still not looking to move upwards.
But good to add some quantities with limited risk and keeping strict STOPLOSS of around 1085 levels.
Trade safe. Manage risk. Be profitable.
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