TMB (TAMILNAD MERCA BANK) LONG
he Elliott Wave Theory's description of the structure and pattern of price movements in financial markets is known as the Elliott Wave Structure.
The Elliott Wave analysis indicates that the stock has completed waves (1) and (2), which are shown in blue numbers on the daily chart. Wave (3) appears to be underway at this time and might reach a maximum length of 161.8% of wave (1) from wave (2)'s lowest point.
It is anticipated that wave (3) will have about five subdivisions in red colour.
Wave levels shown on chart.
According to Elliott Wave theory, the third wave is usually referred to as the strongest wave. It is the primary cause of prices in a trending market moving strongly and steadily in the trend's direction. Investors and traders often look for ways to profit from the significant price gains associated with the third wave.
A particular stage of the Elliott Wave Theory is denoted by the term "Third Wave" in Elliott Waves.
Level of Invalidation
The termination point of wave (2) has been identified as the invalidation level at 399. If the price falls below this level, it can indicate that the expected Elliott Wave pattern is not as it seems.
I am not a registered Sebi analyst. My research is being done only for academic interests.
Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses.
Regards
VJ
The Elliott Wave analysis indicates that the stock has completed waves (1) and (2), which are shown in blue numbers on the daily chart. Wave (3) appears to be underway at this time and might reach a maximum length of 161.8% of wave (1) from wave (2)'s lowest point.
It is anticipated that wave (3) will have about five subdivisions in red colour.
Wave levels shown on chart.
According to Elliott Wave theory, the third wave is usually referred to as the strongest wave. It is the primary cause of prices in a trending market moving strongly and steadily in the trend's direction. Investors and traders often look for ways to profit from the significant price gains associated with the third wave.
A particular stage of the Elliott Wave Theory is denoted by the term "Third Wave" in Elliott Waves.
Level of Invalidation
The termination point of wave (2) has been identified as the invalidation level at 399. If the price falls below this level, it can indicate that the expected Elliott Wave pattern is not as it seems.
I am not a registered Sebi analyst. My research is being done only for academic interests.
Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses.
Regards
VJ
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