Arihant Capital Markets Ltd. Riding the 5th Wave Impulse

2023年12月18日

Arihant Capital Markets Ltd: Riding the 5th Wave Impulse

Daily Time Frame:

Elliott Wave Analysis: Arihant Capital Markets appears to be in an impulse move on the daily time frame, with completion of wave 4 as a correction.

Current Stage: Unfolding wave 5, with (i) and (ii) completed and a potential unfolding of wave (iii).

Price Targets: Anticipating levels of 96 and 104 plus.

Invalidation Level: A strict invalidation set below 63. Current Price Trading near 76.

Technical Indicators:

Breakout Confirmation: Price has given a breakout on the daily time frame with significant volumes.

Indicator Alignment: Major indicators like MACD, RSI, RK's Magic, RK's Brahmastra, etc., are aligning positively, supporting the bullish bias.

Snapshots: Attached snapshots of the indicators for reference.

Elliott Wave Concept - 5th Wave Impulse:
The 5th wave in Elliott Wave theory is often an impulse wave that signifies the final leg of a trend.
Impulse waves are characterized by strong, directional price movements.
Wave (iii) within wave 5 is typically the most powerful and extends higher, often exceeding the peaks of wave (i).

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Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.

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Hope this post is helpful to community
Thanks
RK💕

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The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.

Breakout with good intensity of Volumes on Daily and Hourly time frames


RK's Magic says positive on Daily


RK's Brahmastra says Positive bias on Daily


Possible Elliott wave structure could be this


MACD on Daily is positive and Strong enough


MACD on weekly too


RSI showing good strength on Daily chart