NSE MTARTECH & HEROMOTOCO – Elliott Wave Projection

NSE MTARTECH – Bullish Perspective

Timeframe: Daily
The stock NSE MTARTECH is facing resistance at both the 200 and 100 EMA levels. The ADX has dropped to 13, indicating a weak trend, while the ATR stands at 52.9. The security has been trading within a downward channel for over 62 weeks.

According to the Elliott Wave principle, the price has completed wave (C) of wave ((2)) at 1600, and we are now observing the unfolding of a sub-wave within an impulsive structure. If the structure is truly impulsive, we can expect the price movement to reach a new high, potentially achieving 100% of wave (C). Since we are in wave 3, traders can anticipate a minimum Fibonacci extension of 1.618 times wave 3 of the new cycle. Elliott Wave Rule 1 states that Wave 2 can never retrace beyond the starting point of Wave 1; if it does, the pattern becomes corrective.

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NSE HEROMOTOCO – Will Price Hit the Final the Target?

Do you remember the HEROMOTOCO Wave Analysis?
Click Here: NSE HEROMOTOCO Set for a Bullish Surge to 5800+

BEFORE

I have written clearly, “ A long position could target  5568 – 5640 – 5800+.”

AFTER