SBI: Wave C in Ending diagonal weekly chart

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SBI Weekly chart


SBI has moved in an ending diagonal pattern in last 5 years making it count as wave C in one higher degree. From June 2019 it started correcting and broke the lower trend line of the pattern. As of now it is trading in the pattern but it won't sustain and as a result it will falter below it's previous low of 244 levels. 

The fall looks to be zigzag. It has completed wave a in impulse. Now it is in wave b in which it has not crossed 61.8% of wave a. A minor leg is pending, once completed wave c on the downside will start.

Summation, I am expecting SBI to move down in the price range of 244-222 levels over medium term.

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