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.

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