Dear John,
Sorry for the delay I was caught in some personal work. But here I'm and my take on SBI. On Wednesday the 5th wave was confirmed on different time frame. But there was an odd spike on wave 3. The second peak though made a higher high but the ROC showed lag in wave 3 it shouldn't happen and the subsequent correction was made on heavy volume indicating some heavy selling. But then if we count the zig zag bar then Wave 3 looks like ABC which is not possible. Hence logically it could be counted as Wave 5 but then wave 5 cannot be so short when wave 3 though powerful but not so long enough to create protracted 5. Here weekly charts come in handy. It smoothened out the spike.
As for your analysis of SBI falling tomorrow I agree with you. There would be sideways movement because the stock is overbought as confirmed by 5-day EMA. But nothing beyond 20 Day EMA.
Benefit of using 63 Day ROC. On 14Day ROC you'll find there is a huge divergence between current breakout above 280. This can be taken as bearish sign. But
If you check the 63 day ROC you'll find the breakout. Hence you'd not be chasing false divergence.
Thanks for your valuable time.
For your perusal I've added links to the charts