#ESCORTS : wait and grab opportunityEscorts, 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.
