DABUR INDIA LTD possible Elliot wave counts on daily

Hello Friends,

Here we had shared possible Elliott wave counts on chart of Dabur India ltd. in which we can see that currently we are in corrective phase of this stock, On daily chart we can see that possibly we are in wave (c) of Y of (4), post wave (4) we can start fresh rally towards wave (5) in north direction, but currently we still have to complete corrective phase which is in complex correction pattern, so labeled as W-X-Y, in which we have completed wave W-X and now possibly we are in wave Y, also I'll mention here that in wave Y we have finished wave (a) and wave (b) and now possibly we are in wave (c) of wave Y, in wave (c) we have done wave i, and wave ii and now we are unfolding wave iii of (c) of Y.

Along with wave structures we are witnessing lots of situations in technical charts which are aligning and supporting same bearish bias, like negative crossovers, breakdowns, low relative strengths, RK's Mass psychological cloud etc. etc.
I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.

Please check snap shots shared below

Possible Elliott wave counts on Daily time frame.

Possible Elliott wave counts on Hourly time frame

Support breakdown along with good intensity of volume

Price broken down from ascending parallel channel with good volumes

RK's Mass psychological cloud and stop line both indicating bearish bias ahead.

Bearish Sequence in major moving averages 50DMA is below 100DMA and 100 DMA is less than 200DMA

Price closed below lower Bollinger band on daily time frame

Price closed below lower Bollinger band on weekly time frame

RSI below 40 is too bearish in daily

RSI below 40 is too bearish in weekly

MACD in daily negative crossover under zero level

MACD in weekly also negative

MACD in monthly already running in negative mode

DMI ADX both in bearish strength in daily chart

DMI ADX both in bearish strength in weekly chart

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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.