NSE BAJAJ HOLDING has been forming the correction for 19 weeks. Price has established an ending diagonal in wave C, which signals the downward move is not strong enough for a sharp fall.
According to Elliott waves, if the price sustains above the previous wave (4), traders can trade for the following targets: 6120 – 6229 – 6324+.
As you can see, the price has formed a double bottom on the daily timeframe chart, and 6000 is the neckline of the channel. The corrective structure has retraced 61.8% Fibonacci retracement of its previous move.
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