STATE BANK OF INDIAShort
SBI in a flat correction - Elliott Wave Theory
I have applied the Elliott Wave Pattern. The third wave is including a contracting triangle, and the fifth wave is including an ending triangle. Hence, the State Bank of India's (SBIN) cycle of the corrective wave started after the fifth wave.
There are two scenarios if it crosses 61.8%, C will be around 205, and if it does not crossover the retracement level of 61.8%, C will be at/nearby 195. These levels are target prices for the day traders.
There are two scenarios if it crosses 61.8%, C will be around 205, and if it does not crossover the retracement level of 61.8%, C will be at/nearby 195. These levels are target prices for the day traders.
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