ABCAPITAL Elliott Wave Study
TF - Monthly -
Aditya Birla capital had broken out descending trendline at 80. But, due to supply pressure, it couldn't make a new high again. It ends up making the same high(double top).
AB CAPITAL has made a monthly consolidation range of 139 - 95
As per the monthly chart, AB CAPITAL can take support from 78.05.
Three reasons to consider this level:
1. AB CAPITAL has given five touches to this level.
2. AB CAPITAL had taken support and broken up the trendline.
3. AB CAPITAL can retraced 61.8% at 76.45, which is demand zone.
If AB CAPITAL breaks down to 90, then it will come to take support near 78.05.
TF: Daily -
AB CAPITAL has completed corrective waves A & B. Wave C of wave 4 is about to completed.
We are getting similar confirmation that if AB capital breaks down to 90.05, we can expect a support level of 78.05.
As per Elliott wave, wave 4 can complete near the previous 4th wave of lower degree.
Wave 4 of lower degree is a 78.50. We got the confluence zone as 78.05. After taking support level, AB CAPITAL will start its upward march.
I will update more information soon.
Thank you!
Money_Dictators
Aditya Birla capital had broken out descending trendline at 80. But, due to supply pressure, it couldn't make a new high again. It ends up making the same high(double top).
AB CAPITAL has made a monthly consolidation range of 139 - 95
As per the monthly chart, AB CAPITAL can take support from 78.05.
Three reasons to consider this level:
1. AB CAPITAL has given five touches to this level.
2. AB CAPITAL had taken support and broken up the trendline.
3. AB CAPITAL can retraced 61.8% at 76.45, which is demand zone.
If AB CAPITAL breaks down to 90, then it will come to take support near 78.05.
TF: Daily -
AB CAPITAL has completed corrective waves A & B. Wave C of wave 4 is about to completed.
We are getting similar confirmation that if AB capital breaks down to 90.05, we can expect a support level of 78.05.
As per Elliott wave, wave 4 can complete near the previous 4th wave of lower degree.
Wave 4 of lower degree is a 78.50. We got the confluence zone as 78.05. After taking support level, AB CAPITAL will start its upward march.
I will update more information soon.
Thank you!
Money_Dictators
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Price reached 90 to 144.Note
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ATH ABCAPITAL - 162.45
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.