NSE AUBANK - Elliott Wave Forecasting Insights

Timeframe: Daily

NSE AUBANK has been forming corrective formations for more than 15 weeks. The price is currently trading above the 20/50/100/200 bands. The RSI of the price stands at 55.89, accompanied by a rising ATR, indicating the strength of the trend.

According to Elliott’s wave principle, the price has completed wave C of wave (B) at 696 and has now started forming an impulsive structure. It has already completed wave 2 of wave (C) at 709.05. An entry can be considered after the breakout of 741.2, with the following target levels: 750 – 770 – 785+ . The target will be extended further following a significant breakout of wave (B) at 792.

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