Bharat Electronics Elliott Wave Analysis – Trading Lounge Daily Chart

Bharat Electronics Elliott Wave Technical Analysis

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 Cancelation Level: 240.10

Analysis Details:

The Bharat Electronics Elliott Wave Analysis on the daily chart indicates a bullish trend, with the market currently in an impulsive phase, showing strong upward momentum.

The primary wave structure under observation is Navy Blue Wave 1, which forms part of a larger wave cycle.

This Navy Blue Wave 1 is positioned within Gray Wave 1, confirming its placement in the broader Elliott Wave structure.

The previous corrective phase (Orange Wave 4) appears completed, allowing the market to transition into Navy Blue Wave 1 of Gray Wave 1.

This phase represents the beginning of a new upward movement, suggesting further gains before a potential corrective phase in Navy Blue Wave 2.

A critical invalidation point has been set at 240.10. If the price falls below this level, the current wave structure will be invalidated, requiring traders to reassess their positions and strategies.

Trading Considerations

Traders should monitor key price levels and be prepared for possible corrections after the completion of Navy Blue Wave 1.

The bullish wave structure aligns with the broader Elliott Wave pattern, supporting continued market growth.

Observing price movements and wave progressions will allow traders to make strategic decisions based on the prevailing market conditions.

Bharat Electronics Elliott Wave Analysis – Trading Lounge Weekly Chart

Bharat Electronics Elliott Wave Technical Analysis

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 Cancelation Level: 240.10

Analysis Details:

The Bharat Electronics Elliott Wave Analysis on the weekly chart highlights a bullish trend, with the market currently in an impulsive phase, reflecting strong upward momentum.

The primary wave structure under observation is Gray Wave 1, forming part of a larger wave cycle.

This Gray Wave 1 is positioned within Orange Wave 5, confirming its place in the broader Elliott Wave structure.

The previous corrective phase (Orange Wave 4) appears to be completed, allowing the market to transition into Gray Wave 1 of Wave 5.

This phase represents the start of a new upward movement, signaling further gains before potential corrective phases in the form of lower-degree waves.

A critical invalidation point is set at 240.10. If the price falls below this level, the current wave structure will be invalidated, requiring traders to reassess their strategies.

Trading Considerations

Traders should monitor key price levels and anticipate potential corrections after the completion of Gray Wave 1.

The bullish wave structure aligns with the broader Elliott Wave pattern, supporting continued market growth.

Observing price movements and wave progressions will allow traders to make strategic decisions based on prevailing market conditions.

Technical Analyst: Malik Awais

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