Bajaj finance Elliott wave analysis.

20 May 2020

This the classic example of Elliott wave theory. Bajaj finance completed its first wave near 4922 and after that in wave 2 fall was fast and furious and it seems price has terminated near 1914, which is 61.8% retracement level of wave 1. At lower level I have noticed triangle formation near bottom of wave 2. So I expect breakout will come in this stock very soon and price should go up towards 3418 level in near term.
BAJFINANCE