Elliott Wave Analysis of Tega Industries ltdWelcome to our fascinating journey through the Elliott Wave theory as we analyze Tega Industries.
What Tega Industries does?
Tega is a global leader in designing and manufacturing of 'critical-to-operate' consumables for the mining, mineral processing and material handling industries. The company founded by Mr. Madan Mohan Mohanka in 1976 is a multinational corporation headquartered in Kolkata, India.
Sources - Google
Let's dive into the world of waves
From the starting and up to August 2023, we've seen waves 1, 2, and 3 paint the canvas of price movements. Then, in late October 2023, wave 4 appeared, like a brief intermission.
Now, the thrilling part is, It seems we're in the process of unfolding wave 5. Think of it as the grand finale, often pushing prices to new heights.
In this case, it could even break past previous all-time highs.
Unveiling Elliott Wave Theory
What makes this theory intriguing?
Elliott Wave theory is like reading the hidden story of markets through patterns. It's about understanding the psychology of crowd behavior in trading.
The Big Picture
Here's the bigger picture:
Waves 1, 2, and 3 brought us up, reflecting the excitement of a new trend.
Wave 4 provided a necessary pause.
Now, we're in wave 5, signaling the potential for even more upward adventure.
The Takeaway
In a nutshell, our analysis hints at potential gains. But always remember:
Markets are full of surprises, and risk management is your best companion on this journey.
As with any adventure, do your homework, and prepare for twists and turns in the market's storyline.
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.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
