Escorts, a leading company in the auto sector, has shown a significant price movement as per the wave theory.
The price movement from June 2022 to December 2022 indicates the completion of an impulsive wave of 12345. It is a well-established principle in Elliott wave theory that after the completion of a five-wave sequence, the index or stock tends to experience a correction phase.
It is noteworthy that Escorts is currently in the final phase of its correction, with Wave C in progress after the completion of Waves A and B. It is anticipated that the support level for Wave C will likely be at the level of wave = wave c.
After the confirmation of a reversal, traders may consider taking trades according to their risk preferences. However, it is essential to note that trading always involves risks, and one should conduct thorough research and analysis before making any investment decisions.
The price movement from June 2022 to December 2022 indicates the completion of an impulsive wave of 12345. It is a well-established principle in Elliott wave theory that after the completion of a five-wave sequence, the index or stock tends to experience a correction phase.
It is noteworthy that Escorts is currently in the final phase of its correction, with Wave C in progress after the completion of Waves A and B. It is anticipated that the support level for Wave C will likely be at the level of wave = wave c.
After the confirmation of a reversal, traders may consider taking trades according to their risk preferences. However, it is essential to note that trading always involves risks, and one should conduct thorough research and analysis before making any investment decisions.
Comment:
After conducting a post-analysis of ESCORTS, it has been observed that the stock price has decreased from 1915 to 1807. It is recommended to wait until the stock price reaches the C point before making any further decisions regarding this investment. This approach allows for a more informed decision-making process and helps mitigate potential risks associated with market fluctuations. As such, it is advisable to monitor the stock price and wait for further developments before taking any action.
Comment:
Made low 1807 and moved upside
1807 to 2058+
14% up 😎
1807 to 2058+
14% up 😎