Coal India Elliott Wave technical analysis [Video]
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Function: Counter Trend.
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Mode: Corrective.
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Structure: Gray Wave B.
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Position: Orange Wave 4.
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Direction next lower degrees: Gray Wave C.
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Details: Gray wave A appears completed; gray wave B is now in progress.
The COAL INDIA daily chart illustrates a counter-trend movement developing through a corrective Elliott Wave pattern. The stock has completed gray wave A and is now forming gray wave B, situated within the broader orange wave 4 formation. This configuration suggests a temporary retracement is underway before the likely continuation of the primary downward trend.
Gray wave B typically retraces a portion of the previous wave A’s decline, forming a weaker and often…
