ADANI GREEN ENERGY – ADANIGREEN Elliott Wave Analysis (1D Chart)

ADANIGREEN Elliott Wave Technical Analysis

Trend Overview: Larger Degree Trend Higher (Intermediate Degree, Orange)

Mode: Motive

Structure: Impulse

Position: Minute Wave ((ii)) Navy

Analysis: The 1D chart of ADANI GREEN ENERGY suggests that Minute Wave ((iii)) Navy is likely to continue advancing within Minor Wave 5 Grey of Intermediate Wave (5) Orange, as long as the 1535-1540 support level holds. A decline below this range would prompt a reevaluation of the current wave count, necessitating caution for long positions.

Invalidation Level: 1535

ADANI GREEN ENERGY Daily Chart – Elliott Wave Analysis and Potential Counts

The daily analysis of ADANIGREEN ENERGY indicates that Intermediate Wave (5) could extend upwards, potentially reaching the 3050 level in the longer term. Currently, the stock has dropped to 1636, and maintaining levels above 1535 is crucial to preserve the bullish outlook.

In March 2023, ADANIGREEN Energy concluded Intermediate Wave (4) around the 430 mark, having previously surged to a high of 3050 in Intermediate Wave (3). Following this, the stock retraced sharply to 430 in a corrective A-B-C flat pattern. Since this correction, Intermediate Wave (5) appears to be progressing upwards.

Minor Waves 1 through 4 seem complete, and Minor Wave 5 might be in progress against the 1535 level. A drop below 1535 would invalidate the bullish wave count.

Adani-Green-Energy-1...


ADANI GREEN ENERGY – ADANIGREEN Elliott Wave Analysis (4H Chart)

Trend Overview: Larger Degree Trend Higher (Intermediate Degree, Orange)

Mode: Motive

Structure: Impulse

Position: Minute Wave ((ii)) Navy

Analysis: The 4H chart analysis shows that Minute Wave ((iii)) Navy may resume its upward path within Minor Wave 5 Grey of Intermediate Wave (5) Orange, as long as the 1535-1540 support holds. There is also the potential that Minute Wave ((ii)) completed as an expanded flat. A break below this range would signal the need for a revised wave count, warranting caution.

Invalidation Level: 1535

ADANI GREEN ENERGY 4H Chart – Technical Analysis and Elliott Wave Counts

The 4H chart of ADANIGREEN Energy presents the wave structure from Minor Wave 3 onward. Notably, Minor Wave 4 completed around the 1535-1540 range on June 5, 2024. Currently, Minor Wave 5 appears to be unfolding. At the time of writing, Minute Wave ((ii)) could be complete around the 160 range, and if accurate, Minute Wave ((iii)) might soon resume its upward trend.

Technical Analyst: Harsh Japee

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: TATA Consumer Product Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

Adani-Green-Energy-4...


Conclusion:

ADANI GREEN ENERGY seems poised to initiate Minute Wave ((iii)) upwards, within Minor Wave 5 of Intermediate Wave (5) Orange, as long as prices remain above the 1535 level.

Related

Unlocking ASX Trading Success: TRANSURBAN GROUP – TCL Stock Analysis & Elliott Wave Technical Forecast

Unlocking ASX Trading Success: TRANSURBAN GROUP – TCL Stock Analysis & Elliott Wave Technical Forecast

The Transurban Group's stock performance (TCL) on the ASX through the lens of Elliott Wave theor...

Read More >
JAMES HARDIE INDUSTRIES PLC (JHX) Elliott Wave Analysis: ASX JHX Stock Forecast, and Technical Analysis for Smart Traders

JAMES HARDIE INDUSTRIES PLC (JHX) Elliott Wave Analysis: ASX JHX Stock Forecast, and Technical Analysis for Smart Traders

Elliott Wave analysis of JAMES HARDIE INDUSTRIES PLC (JHX) on the Australian Stock Exchange (ASX). I...

Read More >
Price Action Wheat Elliott Wave Analysis: Technical insights, forecasts, and trading opportunitie

Price Action Wheat Elliott Wave Analysis: Technical insights, forecasts, and trading opportunitie

Delve into the captivating world of wheat price analysis through Elliott wave theory. This article p...

Read More >
Identify Potential Trading Opportunities: The Home Depot (HD) Stocks Elliott Wave Technical Analysis

Identify Potential Trading Opportunities: The Home Depot (HD) Stocks Elliott Wave Technical Analysis

Our comprehensive Elliott Wave analysis of The Home Depot, Inc. (HD) delves into HD's stock pric...

Read More >
Gold (XAUUSD) Elliott Wave Technical Analysis Insights for February 13, 2024

Gold (XAUUSD) Elliott Wave Technical Analysis Insights for February 13, 2024

valuable insights into Gold's market trends through Elliott Wave analysis. Discover counter-tren...

Read More >
NIFTY 50(INDIA) Index Elliott Wave Technical Analysis Provides Detailed Insights into current market trends

NIFTY 50(INDIA) Index Elliott Wave Technical Analysis Provides Detailed Insights into current market trends

The NIFTY 50 (India) Elliott Wave Analysis provides detailed insights into current market trends usi...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on