State Bank of India Elliott Wave technical analysis [Video]

STATE BANK OF INDIA Elliott Wave technical analysis

• Function: Bullish Trend.

• Mode: Impulsive.

• Structure: Navy Blue Wave 5.

• Position: Gray Wave 5.

• Next higher degree direction: Navy Blue Wave 5 (started).

The daily chart for State Bank of India (SBI) highlights a strongly bullish outlook, marking the development of the final impulsive wave in an extended uptrend. The focus is on navy blue wave 5, which serves as the last leg of the broader gray wave 5 formation.

Navy blue wave 4 has concluded its corrective move, and now the stock is advancing through navy blue wave 5, a terminal impulse stage. This phase often represents the final push before a larger correction or possible trend reversal.

Market context and strategy

This stage may signal the end of a larger degree bullish move, making it essential for traders to monitor closely. The daily chart offers the clearest view of this critical impulsive phase and its position within the overall trend.

Traders should look out for typical characteristics of fifth waves—such as weakening momentum, divergence in indicators, and lower trading volume—which can indicate that the bullish momentum is approaching exhaustion.

Trading insight

Navy blue wave 5 provides a potential short-term trading opportunity while also representing the likely conclusion of the gray wave 5 advance. Although maintaining long positions remains valid within this trend, applying tighter risk controls is advisable as the wave matures.

This setup offers strategic insights for investors looking to benefit from what may be the final leg of a strong bullish trend in State Bank of India shares.

STATE BANK OF INDIA Elliott Wave technical analysis

• Function: Bullish Trend.

• Mode: Impulsive.

• Structure: Navy Blue Wave 5.

• Position: Gray Wave 5 of Orange Wave 1.

• Next lower degree direction: Orange Wave.

• Wave cancel invalid level: (Not specified).

The weekly chart for State Bank of India (SBI) shows a strong bullish outlook, highlighting the final impulsive wave of a broader uptrend. The primary wave in focus is navy blue wave 5, forming the concluding part of gray wave 5, within the larger orange wave 1 structure.

Navy blue wave 4 has completed its corrective phase. The stock is now in navy blue wave 5, which typically marks the final leg in a bullish sequence. This wave may signal the approach of a major turning point in the market trend.

Market structure and outlook

This technical framework offers a wide-angle view of SBI’s wave progression. With navy blue wave 5 now in play, it could represent the final substantial push within gray wave 5, capping the move that began with orange wave 1.

Investors should monitor this phase for typical end-wave signals—such as divergence in momentum indicators and reduced volume—which often indicate trend exhaustion and the potential onset of a correction.

Trading insight

While the current trend still favors holding long positions, caution is warranted. The wave structure suggests a nearing peak, and risk management should be tightened. The weekly chart gives position traders valuable insight into this possible final bullish stretch in State Bank of India shares.

Technical analyst: Malik Awais.

STATE BANK OF INDIA Elliott Wave technical analysis [Video]