Elliott Wave _ HDFC LIFE

The analysis base on Elliott Wave Theory -resembles the Dow theory (HIGHER HIGH-LOWER LOW) means stock prices move in waves.

Elliott wave has two parts :
a) Impulse wave (Point 0-1, 2-3), which net travels in the same direction as the larger trend, always shows five waves in its pattern.

b) Corrective wave (Point 1-2, 3-4), on the other hand, net travels in the opposite direction of the main trend.

Five waves move in the direction of the main trend, followed by three waves in a correction (A,B,C).

In HDFC Life, 5th waves may give upside movement of 20%. Currently stock is consolidating - buy the dip.


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