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NSE SBI Life Insurance: Wave (5) Targets ₹2400 – ₹2600

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nse free sbi life stock chart tips

nse free sbi life stock chart tips

SBI Life Insurance Weekly Chart: Corrective Phase Near Completion?

SBI Life appears to have completed a strong Wave (3) advance near ₹2150 after a five-wave structure. The ongoing decline is likely part of a corrective Wave (4) phase.

The stock is currently trading near the lower boundary of its long-term rising channel, which is acting as an important support zone.

A sustained move above ₹1950 may indicate the completion of the corrective phase and could lead to the start of Wave (5). In such a case, the stock may move towards ₹2400–2600 over the medium term.

Targets:
Medium-term: ₹2,150
Long-term: ₹2,400–2,600
Invalidation: Sustained weakness below ₹1450 may delay the bullish wave structure and require reassessment.

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