BHARAT WIRE ROPES - Potential for 80% Upside ?
I will keep this post concise, as it seems that the stock has finalized its fourth wave (refer to my previous posts on LTI Mindtree, ONGC, and Bajaj Finserv, where the stock began to rise following the fourth wave).
According to Elliott Wave theory, we are currently in the fifth wave. If the prices remain within our designated buy zone (the Golden Fibonacci zone) and are accompanied by bullish patterns on the daily chart, this could potentially validate our assumption that we are indeed in the fifth wave.
All wave counts and levels have been indicated on the chart.
For a detailed explanation on Elliot waves basics, please refer to the following link:https://www.investopedia.com/terms/e/elliottwavetheory.asp
DISCLAIMER: It is important to note that the information provided in this analysis is intended solely for educational purposes. It is strongly advised to consult with a financial advisor prior to making any investment decisions. I cannot be held responsible for any financial losses that may occur.
According to Elliott Wave theory, we are currently in the fifth wave. If the prices remain within our designated buy zone (the Golden Fibonacci zone) and are accompanied by bullish patterns on the daily chart, this could potentially validate our assumption that we are indeed in the fifth wave.
All wave counts and levels have been indicated on the chart.
For a detailed explanation on Elliot waves basics, please refer to the following link:https://www.investopedia.com/terms/e/elliottwavetheory.asp
DISCLAIMER: It is important to note that the information provided in this analysis is intended solely for educational purposes. It is strongly advised to consult with a financial advisor prior to making any investment decisions. I cannot be held responsible for any financial losses that may occur.
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