JSFB LONGThe Elliott Wave Theory's description of the structure and pattern of price movements in financial markets is known as the Elliott Wave Structure.
The Elliott Wave analysis indicates that the stock has completed waves (i) and (ii), which are shown as blue numbers on the daily chart. Journey of Wave (iii) will start.
It is anticipated that wave (iii) will have about five subdivisions shown in red color.
wave i (in red color) of wave (iii) will unfold in five sub waves shown in black circle.
Wave levels of wave i in red color is shown on chart.
Level of Invalidation
The starting point of Wave (i) has been identified as the invalidation level at 365. Because as per wave rules Wave (ii) cannot cross the starting point of Wave (i). If the price falls below this level, it can indicate that the expected Elliott Wave pattern is not as it seems.
I am not a registered Sebi analyst. My research is being done only for academic interests.
Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses.
Regards
Dr Vineet
