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SBILIFE Elliott Wave technical analysis Function: Larger Degree Trend Higher (Intermediate degree, orange).  Mode: Motive.  Structure: Impulse.  Position: Minute Wave ((v)) Navy.   Details: Minute Wave ((v)) looks complete around 1940 or could be soon terminating within Minor Wave 5 Grey of Intermediate Wave (5) Orange. Traders are advised to book profits here as prices have turned lower.  Invalidation point: 1667. SBI Life Insurance Co daily chart technical analysis and potential Elliott Wave counts SBI Life Insurance Co daily chart indicates a progressive impulse wave higher between March 2023 and now as prices hit 1935-40 highs. Probability remains high for the fifth to have terminated at multiple degrees here. If correct, expect a larger degree corrective wave to begin soon against 1940.  The stock terminated Intermediate Wave (4) Orange around 1060-65 range in March 2023. Since then, prices have rallied through 1935-40 highs, sub dividing into five waves. Please note that Minute Wave ((v)) of Minor Wave 5 Grey could be complete or near to completion around 1960-65.  The fibonacci 0.618 extension of Wave 1 through 3 was missed by a small margin and bulls could attempt another push through. Alternatively, a slip through 1667 would confirm a top is in place and bears are back in control. SBILIFE Elliott Wave technical analysis Function: Larger Degree Trend Higher (Intermediate degree, orange).  Mode: Motive.  Structure: Impulse.  Position: Minute Wave ((v)) Navy.   Details: Minute Wave ((v)) looks complete around 1940 or could be soon terminating within Minor Wave 5 Grey of Intermediate Wave (5) Orange. The sub waves within Wave ((v)) are not clear yet and prices could print a shallow high through 1960 before reversing.  Invalidation point: 1667. SBI Life Insurance Co four-our chart technical analysis and potential Elliott Wave counts  SBI Life Insurance Co 4H chart highlight sub waves after Minor Wave 4 Grey completed around 1311 on June 04, 2024 alongside most stocks. Minute Wave ((iii)) was extended and Wave ((iv)) a flat. The sub waves with Minute Wave…

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Filed under: News - @ September 18, 2024 9:25 am