SBILIFE Go "Long"
Disclaimer: This is my personal view. Please consult your financial advisor before investing.
This stock counter is open for swing trade for Next 20 Days.
1. Support : Stock has taken a meaningful support @750.
2. Wave theory : On hourly chart stock is in meaningful correction and currently in Wave - B or Wave - 2. When this completes Wave - C or Wave -3 should start upwards. Faster retirement has happen from the level of 750 so we could say this is an up move in Impulsive behaviour. Impulsive behaviour is evident on the chart. So this current move could be Zigzag move up either in correction or Impulse.
3. Favourable Risk to Reward ratio is there to take trade.
4. On current Trend-lines, stock prices are on the South bank of current flow and will travel to North bank in up move.
This stock counter is open for swing trade for Next 20 Days.
1. Support : Stock has taken a meaningful support @750.
2. Wave theory : On hourly chart stock is in meaningful correction and currently in Wave - B or Wave - 2. When this completes Wave - C or Wave -3 should start upwards. Faster retirement has happen from the level of 750 so we could say this is an up move in Impulsive behaviour. Impulsive behaviour is evident on the chart. So this current move could be Zigzag move up either in correction or Impulse.
3. Favourable Risk to Reward ratio is there to take trade.
4. On current Trend-lines, stock prices are on the South bank of current flow and will travel to North bank in up move.
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