SBI Life Insurance

SBI LIFE INSURANCE - I do not like to speculate with wave counts where price history is limited but just on a first look basis given that the daily momentum crossed over to the buy side I did. It showed up in my momentum filters and is a popular sector among IPOed stocks. The move from the 12/06 low can be marked as 5 waves in wave 1 and wave 3 up should have started given this basic setup. The immediate support is at 850 near the 40dema. The upper band at 908 is the initial resistance and the wave 1 high is at 923 and from the low of 831 if taken as wave 2, then 3=1 is at 1050. That is the set up as of today. Lets see how it goes.