NTPC Indian Stocks Elliott Wave technical analysis [Video]
NTPC Elliott Wave technical analysis
Function: Counter Trend.
Mode: Impulsive.
Structure: Navy Blue Wave C.
Position: Gray Wave B.
Direction next lower degrees: Gray Wave C.
Details: Navy Blue Wave B appears complete, and Navy Blue Wave C is now developing.
The daily chart analysis for NTPC using Elliott Wave principles identifies a counter-trend movement. Price action is currently in an impulsive phase, signaling a sharp move against the dominant trend. This active wave is labeled as Navy Blue Wave C and forms part of the corrective structure inside Gray Wave B. This positioning indicates that the current counter-trend is nearing its final stage.
According to the wave analysis, Navy Blue Wave B has…
