Bharat Electronics (BEL) Elliott Wave technical analysis [Video]
Bharat Electronics Elliott Wave Analysis – Daily chart
Function: Counter Trend.
Mode: Corrective.
Structure: Orange wave 4.
Position: Navy blue wave 1.
Direction next higher degrees: Orange wave 5.
Details: Orange wave 3 appears complete, and orange wave 4 is currently unfolding.
Wave cancel invalid level: 256.
The BHARAT ELECTRONICS daily chart shows a counter-trend movement based on Elliott Wave analysis. The current price action indicates a corrective move, suggesting a short-term retracement within a broader upward trend. Structurally, orange wave 4 is developing as part of navy blue wave 1, implying the stock is undergoing a typical pullback before potentially resuming its primary trend direction.
