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NSE HINDUNILVR – Elliott Wave Projection

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Free hindunilvr chart calls

Free hindunilvr chart calls

Timeframe: Daily
HINDUNILVR on the NSE has been in a downward trend for over 39 weeks, forming a corrective pattern. During this period, prices have declined by 19.5%. This decline was supported by the rising trend of the Average Directional Index (ADX). Presently, the ADX stands at 41.09. Additionally, the Average True Range (ATR) has begun to increase, now at 34.28. The stock’s price is currently trading below its 20-day, 50-day, 100-day, and 200-day Exponential Moving Averages (EMA), indicating that it may require some time to regain strength.

Following the wave principle, the price has completed wave (B) at 2669.4 and initiated a decline for wave (C). It’s observable that wave (C) has extended to 1.618 times the length of wave (A). Additionally, wave A equals wave B at 2345.6.

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