BIOCON LIMITED.Long
BIOCON LONG
Updated
The Elliott Wave Theory's description of the structure and pattern of price movements in financial markets is known as the Elliott Wave Structure.
The Elliott Wave analysis indicates that the stock has completed waves (1) and (2), which are shown as blue numbers on the daily chart. Wave (3) appears to be underway at this time and might reach a maximum length of 161.8% of wave (1) from wave (2)'s lowest point.
It is anticipated that wave (3) will have about five subdivisions. According to the study, wave (i),(ii),(iii) and wave (iv) have ended in a red number, suggesting that there may be more upward movement in wave (v).
Wave levels shown on chart.
Level of Invalidation
The termination point of wave (2) has been identified as the invalidation level at 217.50. If the price falls below this level, it can indicate that the expected Elliott Wave pattern is not as it seems.
I am not a registered Sebi analyst. My research is being done only for academic interests.
Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses.
Regards
VJ
The Elliott Wave analysis indicates that the stock has completed waves (1) and (2), which are shown as blue numbers on the daily chart. Wave (3) appears to be underway at this time and might reach a maximum length of 161.8% of wave (1) from wave (2)'s lowest point.
It is anticipated that wave (3) will have about five subdivisions. According to the study, wave (i),(ii),(iii) and wave (iv) have ended in a red number, suggesting that there may be more upward movement in wave (v).
Wave levels shown on chart.
Level of Invalidation
The termination point of wave (2) has been identified as the invalidation level at 217.50. If the price falls below this level, it can indicate that the expected Elliott Wave pattern is not as it seems.
I am not a registered Sebi analyst. My research is being done only for academic interests.
Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses.
Regards
VJ
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Level 1 achieved.Trade closed: target reached
Level Acheived.Trade closed
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