SRF Ltd. Possible Elliott wave counts, looks corrective phase

Hello Friends,

Here we had shared possible wave counts of SRF Ltd. which is clearly showing corrective phase in current scenarios, After completing impulse move as 1-2-3-4-5 now we are in correction, which is unfolding as A-B-C as a zigzag correction pattern, which should unfold in 5-3-5 subdivisions, and already we had finished wave A and B, now possibly we are unfolding wave C which should come as in five subdivisions as a 1-2-3-4-5, in which we had finished 1-2 and now possibly we are in 3 of C, Overall, as per Elliott wave structure, bias are bearish in this stock, with Invalidation level of price crossing above 2636. which may give good lower levels in upcoming weeks.

Still there is a support area shared and discussed in this video post which is horizontal support zone, once its broken then for bears, but it can provide support also, so be cautious, Some significant snap shots are shared below, please go throughout once. 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.

MACD Negative crossover in Daily time frame

MACD in weekly making lower high and now in down tick position

MACD in monthly already running Negative

RSI on daily down tick and broken trendline support

RSI on weekly breakdown as head n shoulder pattern and also broken support trendline

Price closed below 20DMA and also challenging lower Bollinger band on daily

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Hope this post is helpful to community

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I am not sebi registered analyst.
My studies are for educational purpose only.

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