According to the Elliott Wave Theory, the Elliott Wave Structure describes the pattern and arrangement of price movements in financial markets.
Based on extensive analysis, it appears that the stock has completed wave 5 on the daily chart. A corrective wave (a-b-c) has begun. Currently, it appears that the first wave (a) of correction is over and the second wave (b) is expected to begin. There is a chance that the wave (b) could retraced up to .50% (Rs 449.25) from the lowest point of the wave (a).
Wave (b) is anticipated to be comprised of approximately three subdivisions.
Following that, wave (c) may unfold.
I am not a registered Sebi analyst. My studies are purely for educational purposes.
Before trading or investing, please consult with your financial advisor. I am not accountable for your profits or losses in any way.
Thanks
VJ
Based on extensive analysis, it appears that the stock has completed wave 5 on the daily chart. A corrective wave (a-b-c) has begun. Currently, it appears that the first wave (a) of correction is over and the second wave (b) is expected to begin. There is a chance that the wave (b) could retraced up to .50% (Rs 449.25) from the lowest point of the wave (a).
Wave (b) is anticipated to be comprised of approximately three subdivisions.
Following that, wave (c) may unfold.
I am not a registered Sebi analyst. My studies are purely for educational purposes.
Before trading or investing, please consult with your financial advisor. I am not accountable for your profits or losses in any way.
Thanks
VJ