SBI: Nepal SBI Bank Elliott Wave: Wave 4 Triangle Setup

SBI is forming a year-long wave 4 contracting triangle consolidation ahead of a potential bullish breakout. A break above 423 signals entry, with confirmation at 441 and stop-loss at 382.10.

Signal: bullish

Current Elliott Wave count: Wave 4th

• Preferred levels:
• Resistance: 441
• Stop Loss: 382
• Invalidation: 349
• Breakout: 423

On the monthly chart, Nepal SBI Bank appears to be forming a 4th wave triangle consolidation. Please check the daily chart as well.

SBI Bank has been moving sideways in a year-long consolidation, which looks very much like a wave 4 triangle pattern nearing its completion. A breakout above the 423 level would offer a good entry point, while a break past 441 would confirm the triangle breakout and signal the start of the 5th wave rally. Set your stop-loss at 382.10, with the pattern invalidation level sitting at 349.