Key Observations:
Pattern Structure:
Left Shoulder: Formed as the price dipped and rebounded.
Head: A deeper dip, followed by a recovery, forming the head of the pattern.
Right Shoulder: A final dip, higher than the head, completing the structure.
The neckline (resistance line) is slanted slightly upwards, showing gradual bullish sentiment.
Breakout:
Once the...
Key Observations
Current Price and Trend:
The stock is trading at ₹390, showing a decline of 3.91% for the day.
A pullback is observed from the peak of wave (3), currently consolidating in wave (4).
Elliott Wave Analysis:
The impulse structure indicates that wave (5) is yet to unfold.
Key Fibonacci levels are highlighted:
Wave (5) targets are projected around...
