GHCLTEXTIL LONGThe Elliott Wave analysis indicates that the stock has finished waves (i) and (ii), moving in the wave (iii), which are shown by blue numbers on the daily chart.
Wave (iii), also known as the impulse wave, unfolded into five waves, which are illustrated in red.
waves i, ii and iii and iv are finished and shown in red colour on the chart.
Wave v of wave (iii) will unfold in five waves, as illustrated in the black circle.
Wave levels are depicted on the chart.
Level of Invalidation
The invalidation level of 97.50 has been identified as the starting point for wave i of wave (iii). If the price falls below this level, it means that the projected Elliott Wave pattern is not as it appears.
I'm not a registered Sebi analyst. My research is done solely for academic purposes.
Please consult your financial advisor before trading or investing. I bear no responsibility for your profits or losses.
Regards, VJ.
