Axis Bank Elliott Wave technical analysis [Video]
Axis Bank Elliott Wave technical analysis
Function: Bullish Trend.
Mode: Impulsive.
Structure: Orange Wave 3.
Position: Navy Blue Wave 1.
Direction next lower degrees: Orange Wave 4.
Details: Orange wave 2 appears completed; orange wave 3 of 1 is now in progress.
Invalidation level: 932.
The AXIS BANK daily chart highlights a bullish trend developing within an impulsive Elliott Wave formation. The stock has finished its orange wave 2 correction and moved into orange wave 3, a part of the larger navy blue wave 1. This structure signals the early phase of a potentially strong upward impulse wave with considerable upside in the near term.
Orange wave 3 generally marks the most dynamic part of an Elliott…
