sbi w5

Concrete example of the insanity that lies ahead
sbi successfull break that did min target of T1
A break above T1 would lead to 1246-1260-1301-1444=bonus target
Keep in mind playing long above t1 for a t2 = gr8er fool theory trade. As long as the fools keep coming you keep going up :)


SBIN, Analysis Date:5/14/2007
Close/cmp:1205.75
Swing : Up=Buy ( 3.000% sensitivity)
T1:1214.44 T2:1301.65
T3:1443.95 1xR:1259.45
ImpulseTargetZone:1531.16-1673.45
SwingHigh:1,165.8 CMP:1,205.8
SwingLow:960.3 SLPivot:1,072.2
2xAtr14Stop:105.727
Narrowsl:1,072.15
WideSl:1,014.09
Lower Chan:1093.21 Upper Chan:1246.17
ResLine:1336.74

The most recent buy setup in sbi was near 1080 area during the flat correction when my friend ghosh asked for the levels.
now its a breakout trade, only for the crazy daredevils who know how to manage risk and understand entering/exiting/reentering etc
Just showing this chart to show you the pattern which i believe nifty is about to display in the coming days :).
Namely uptrend , consolidation, uptrend.
This is called a measured move by the way in standard technicals and the most common target is t2.
In elliot wave if counting a w5 target is t1 and if extended w5 then t2/t3.