Based on Elliott Wave analysis, it appears that the stock has completed waves a, b, and c as a correction since its initial public offering. Currently, the stock is undergoing an impulse wave.
The stock is currently in wave (i) and shows a blue color. The completion will occur in five sub-waves. The subwave of wave (i) has been completed, including waves i, ii, and iii in red color. Wave iv is currently nearing completion.
On the downturn (dip), there is a probability of making a buy.
Wave v will begin once wave iv is completed.
Levels of waves are highlighted on the chart.
In 1 hr timeframe:
RSI above 40 i.e. bullish
Stochistic bullish crossover
MACD bullish crossover
Invalidation Level
An invalidation level of 248.55 has been identified as the endpoint for wave (ii). If the price drops below this level, it suggests that the projected Elliott Wave pattern may not be accurate.
I am not a certified analyst registered with Sebi. I conduct my research exclusively for academic purposes.
It is always wise to seek guidance from a financial advisor before making any trading or investment decisions. I cannot be held accountable for any gains or losses you may experience.
Best regards,
VJ.
The stock is currently in wave (i) and shows a blue color. The completion will occur in five sub-waves. The subwave of wave (i) has been completed, including waves i, ii, and iii in red color. Wave iv is currently nearing completion.
On the downturn (dip), there is a probability of making a buy.
Wave v will begin once wave iv is completed.
Levels of waves are highlighted on the chart.
In 1 hr timeframe:
RSI above 40 i.e. bullish
Stochistic bullish crossover
MACD bullish crossover
Invalidation Level
An invalidation level of 248.55 has been identified as the endpoint for wave (ii). If the price drops below this level, it suggests that the projected Elliott Wave pattern may not be accurate.
I am not a certified analyst registered with Sebi. I conduct my research exclusively for academic purposes.
It is always wise to seek guidance from a financial advisor before making any trading or investment decisions. I cannot be held accountable for any gains or losses you may experience.
Best regards,
VJ.