IDFCFIRSTB LONG
Updated
The Elliott Wave Structure is the Elliott Wave Theory's description of the structure and pattern of price movements in financial markets.
The Elliott Wave analysis shows that the stock has completed waves (i) and (ii), which appear as blue numbers on the daily chart. Wave (iii) appears to have five sub-waves.
The red color of wave (iii) indicates the completion of waves i, ii, iii, and iv, while wave v is still ongoing.
The black circle illustrates the estimated number of subdivisions in Wave v.
Wave 1 of wave v in the black circle is finished, and wave 2 is nearing completion.
It's a buying opportunity during a downturn (dip).
Following the completion of wave 2, wave 3 will be divided into five sub-waves.
The blue brackets indicate the sub-waves of Wave 3.
Wave levels are depicted on the chart.
Level of Invalidation
The invalidation level for Wave 1 is 75.05. Because According to wave rules, Wave 2 cannot retrace more than 100% of Wave 1. If the price falls below this level, it may signal that the projected Elliott Wave pattern is not what it appears.
I'm not a registered Sebi analyst. I conduct my research exclusively for academic purposes.
Please consult your financial advisor before trading or investing. I accept no responsibility for any profits or losses.
Regards, VJ.
The Elliott Wave analysis shows that the stock has completed waves (i) and (ii), which appear as blue numbers on the daily chart. Wave (iii) appears to have five sub-waves.
The red color of wave (iii) indicates the completion of waves i, ii, iii, and iv, while wave v is still ongoing.
The black circle illustrates the estimated number of subdivisions in Wave v.
Wave 1 of wave v in the black circle is finished, and wave 2 is nearing completion.
It's a buying opportunity during a downturn (dip).
Following the completion of wave 2, wave 3 will be divided into five sub-waves.
The blue brackets indicate the sub-waves of Wave 3.
Wave levels are depicted on the chart.
Level of Invalidation
The invalidation level for Wave 1 is 75.05. Because According to wave rules, Wave 2 cannot retrace more than 100% of Wave 1. If the price falls below this level, it may signal that the projected Elliott Wave pattern is not what it appears.
I'm not a registered Sebi analyst. I conduct my research exclusively for academic purposes.
Please consult your financial advisor before trading or investing. I accept no responsibility for any profits or losses.
Regards, VJ.
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