Free Stock market / Nifty intraday tips, FREE Stock, Commodity & Forex tips

NSE TEGA – Elliott Wave Projection

Free nse tega chart calls

Free nse tega chart calls

Timeframe: Daily

NSE TEGA recently reached a new low at 397 and appears to be in the early stages of forming a new impulsive cycle. Notably, the price has broken through key exponential moving averages, including the 50, 100, and 200 EMA. Additionally, the Relative Strength Index (RSI) has surged to 62.29, indicating strength, and the Average True Range (ATR) is quite substantial at 37.

Wave Formation:

  • Wave (1) formed an impulse formation.
  • Wave (2) was a sharp zigzag with a 100% retracement of wave (1).
  • Wave (3) was an impulse formation.
  • Wave (4) has a double three formation with W-X-Y waves and a retracement of 38.2%.
  • Wave (5) can reach up to 1.618% of the reverse Fibonacci level of 1278.7

Price has accomplished the double three correction at 841.5, and price surged rapidly. At Present,NSE TEGA has started an impulsive structure which can be confirmed by wave guideline.  According to Elliott wave principle, new impulse can be confirm after breakout of wave  B,2 or X. If price wave Wave B at  968, traders can buy for the following targets: 1055 – 1171 – 1270+.

We will update further information soon.

Get free important share market ideas on stocks & nifty tips chart setups, analysis for the upcoming session, and more by joining the below link: Stock Tips

Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.

Disclaimer: The information provided on this website, including but not limited to stock, commodity, and forex trading tips, technical analysis, and research reports, is solely for educational and informational purposes. It should not be considered as financial advice or a recommendation to engage in any trading activity. Trading in stocks, commodities, and forex involves substantial risks, and you should carefully consider your financial situation and consult with a professional advisor before making any trading decisions. and its authors do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any losses or damages incurred as a result of using or relying on such information. Trading in the financial markets is subject to market risks, and past performance is not indicative of future results. By accessing and using this website, you acknowledge and agree to the terms of this disclaimer.
Previous ArticleNext Article
Mr.Guru(s) is a team of stock market certified technical and research analysts with over 20 years of experience. They are regular guests on popular online channels and contribute articles to several financial publications. Their insights and advice are respected by investors worldwide. With their collective knowledge and expertise, they have a proven track record of successfully predicting market movements and identifying profitable opportunities.

Join Today (Free): Stock & Nifty Tips

Write a Comment

Comment Policy: We love comments and appreciate the time that readers spend to share ideas and give feedback. However, all comments are manually moderated and those deemed to be spam or solely promotional will be deleted. Your email address will not be published. Required fields are marked *