📊 Elliott Wave Analysis
Wave 1: Rally from ₹260 to ₹5,712 (Gain of ₹5,452)
Wave 2: Correction down to ₹3,060 (Retracement of ₹2,652)
Wave 3 Projection:
Using the Fibonacci extension principle, Wave 3 often extends to 161.8% of Wave 1:
Wave 3 Target = Wave 2 End + (1.618 × Wave 1 Length)
Wave 3 Target = ₹3,060 + (1.618 × ₹5,452) ≈ ₹11,881
This projection suggests a potential target of ₹11,881, indicating a robust bullish phase ahead.
A Golden Crossover has been identified in HAL, where the 50-day moving average has crossed above the 200-day moving average. This is a classic bullish signal, suggesting a strong upward trend.
Wave 1: Rally from ₹260 to ₹5,712 (Gain of ₹5,452)
Wave 2: Correction down to ₹3,060 (Retracement of ₹2,652)
Wave 3 Projection:
Using the Fibonacci extension principle, Wave 3 often extends to 161.8% of Wave 1:
Wave 3 Target = Wave 2 End + (1.618 × Wave 1 Length)
Wave 3 Target = ₹3,060 + (1.618 × ₹5,452) ≈ ₹11,881
This projection suggests a potential target of ₹11,881, indicating a robust bullish phase ahead.
A Golden Crossover has been identified in HAL, where the 50-day moving average has crossed above the 200-day moving average. This is a classic bullish signal, suggesting a strong upward trend.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.