M&M Indian stocks Elliott Wave technical analysis [Video]
M&M Elliott Wave technical analysis
Function: Bullish Trend.
Mode: Impulsive.
Structure: Navy Blue Wave 3.
Position: Gray Wave 5.
Next higher degrees: Navy Blue Wave 3 (Initiated).
Details: Navy Blue Wave 2 looks completed; now Navy Blue Wave 3 of Gray Wave 5 is in progress.
Wave cancel invalid level: 2427.
The MAHINDRA & MAHINDRA daily chart analysis using Elliott Wave shows a bullish setup. The price is in an impulsive phase, indicating a strong uptrend. The wave structure now points to Navy Blue Wave 3, which belongs to a larger Gray Wave 5 sequence. This suggests that the stock is advancing firmly in the final phase of its bullish pattern.
Navy Blue Wave 2 appears to have completed its correction,…
