Bharat Electronics Elliott Wave Analysis – Trading Lounge Daily Chart
Bharat Electronics Elliott Wave Technical Analysis
Function: Bullish Trend
Mode: Impulsive
Structure: Navy Blue Wave 1
Position: Gray Wave 1
Next Lower Degree Direction: Navy Blue Wave 2
Wave Cancellation Level: 240.10
Analysis Details
The Bharat Electronics Elliott Wave Analysis on the daily chart confirms a bullish trend, with the market currently in an impulsive phase, showcasing strong upward momentum.
- The primary wave structure under observation is Navy Blue Wave 1, forming part of a larger wave cycle.
- This Navy Blue Wave 1 is positioned within Gray Wave 1, validating its placement in the broader Elliott Wave framework.
- The previous corrective phase (Orange Wave 4) appears to be completed, enabling the market to transition into Navy Blue Wave 1 of Gray Wave 1.
- This phase marks the beginning of a new upward movement, signaling further gains before an anticipated corrective phase in Navy Blue Wave 2.
- A critical invalidation point is set at 240.10—if the price falls below this level, the current wave structure becomes invalid, necessitating a reassessment of trading strategies.
Trading Considerations
- Traders should monitor key price levels and prepare for potential corrections once Navy Blue Wave 1 completes.
- The bullish wave structure aligns with the broader Elliott Wave pattern, reinforcing expectations of continued market growth.
- Observing price movements and wave progressions will assist traders in making strategic, data-driven decisions based on prevailing market conditions.
Bharat Electronics Elliott Wave Analysis – Trading Lounge Weekly Chart
Bharat Electronics Elliott Wave Technical Analysis
Function: Bullish Trend
Mode: Impulsive
Structure: Gray Wave 1
Position: Orange Wave 5
Next Higher Degree Direction: Gray Wave 1
Wave Cancellation Level: 240.10
Analysis Details
The Bharat Electronics Elliott Wave Analysis on the weekly chart reflects a bullish trend, with the market currently in an impulsive phase, exhibiting strong upward momentum.
- The primary wave structure in focus is Gray Wave 1, forming part of a larger wave cycle.
- This Gray Wave 1 is positioned within Orange Wave 5, confirming its placement in the broader Elliott Wave structure.
- The previous corrective phase (Orange Wave 4) appears completed, allowing the market to advance into Gray Wave 1 of Wave 5.
- This phase signifies the beginning of a new upward trend, suggesting potential gains before an expected corrective phase in lower-degree waves.
- A key invalidation level is set at 240.10—if the price drops below this threshold, the current wave structure will be invalidated, requiring traders to reassess their market approach.
Trading Considerations
- Traders should keep an eye on critical price levels and anticipate possible corrections upon the completion of Gray Wave 1.
- The bullish wave formation is consistent with the broader Elliott Wave pattern, supporting the expectation of sustained market growth.
- By closely tracking price fluctuations and wave progressions, traders can make well-informed trading decisions in line with current market conditions.
Technical Analyst: Malik Awais
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