Get started
pradipandsuvra

GATI: Consolidation with a patten repetition of June'2020

pradipandsuvra  
NSE:GATI   None
Chart Patterns Elliott Wave indianstockmarket consolidationzone GATI
0
0
chartpattern elliottwaves indianstockmarket consolidationzone gati
NSE:GATI I am seeing few interesting observations:

  • It looks like a fresh EW wave formation started from 20/06/2022, after completion of previous wave since June 2020.
  • Now the current wave-1 replicates the same price-action of June'20 to Dec'20, starting from June'22 to till date.
  • It can be viewed as a Pole-and-Flag also, where the price action moves up and then consolidating. We are actually now a consolidation phase.
  • It can be viewed as a W pattern as well (shown as dotted W with a dotted neckline).

Support is at 158 level; Resistance is at 190 level. It's presently neutral, consolidating. So neutral as of now.



Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.