SBI - Breaks out Previous Resistance, Wave 3 Progress
It is been observed that ABC Zig Zag correction completed and Wave 1 and Wave 2 structured well that shows higher high. Now I observe that Wave 3 is in progress and it shall go upto 261 and retrace back to Wave 4 and then shall again move higher from 261 levels to make Wave 5. It is wise to buy after retracement or near Wave 4 levels.
As per technical pattern formation, you may also notice a "Head n Shoulder" pattern formation that retrace back to previous resistance level at 256 or Wave 4.
As per technical pattern formation, you may also notice a "Head n Shoulder" pattern formation that retrace back to previous resistance level at 256 or Wave 4.
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