The Elliott Wave analysis indicates that the stock has finished corrective wave a-b-c since IPO came. Wave (i) is finished and wave (ii) is about to end, which are shown by blue numbers on the daily chart.
It is a buying opportunity on the downturn (dip).
Wave (iii) will begin following the completion of wave (ii).
Wave (iii) is expected to have around five subdivisions, which are highlighted in red.
Wave levels are depicted on the chart.
Inverted Head and Shoulder Pattern is also forming and shown on chart below.
Level of Invalidation
The invalidation level of 454.80 has been identified as the starting point for wave (i). 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.
It is a buying opportunity on the downturn (dip).
Wave (iii) will begin following the completion of wave (ii).
Wave (iii) is expected to have around five subdivisions, which are highlighted in red.
Wave levels are depicted on the chart.
Inverted Head and Shoulder Pattern is also forming and shown on chart below.
Level of Invalidation
The invalidation level of 454.80 has been identified as the starting point for wave (i). 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.
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