BEL Elliott Wave technical analysis
Function: Larger Degree Trend Higher (Intermediate degree, orange).
Mode: Motive.
Structure: Impulse.
Position: Minute Wave ((ii)) Navy.
Details: Minute Wave ((iii)) Navy of Minor Wave 5 Grey is now progressing higher against 229, as Wave ((ii)) might be in place around 250-60. Alternatively Wave 5 Grey completed above 342.
Invalidation point: 229.
Bharat Electronics daily chart technical analysis and potential Elliott Wave counts
Bharat Electronics daily chart is indicating bulls are to remain in control until prices stay above 229 mark. The stock is still progressing higher to terminate Minor Wave 5 Grey above 350-70 range as Minute Wave ((iii)) begins to unfold.
The stock had earlier dropped through 87 lows in January 2023, potential Intermediate Wave (4). Since then, the rally could be subdivided into Minor Waves 1 through 4, which terminated around 229 mark. If correct, prices are now pushing higher as Minor Wave 5 is unfolding.
BEL Elliott Wave technical analysis
Function: Larger Degree Trend Higher (Intermediate degree, orange).
Mode: Motive.
Structure: Impulse.
Position: Minute Wave ((ii)) Navy.
Details: Minute Wave ((iii)) Navy of Minor Wave 5 Grey is now progressing higher against 229, as Wave ((ii)) might be in place around 250-60. Alternatively Wave 5 Grey completed above 342. Any break below 229 will void the bullish scenario.
Invalidation point: 229.
Bharat Electronics four-hour chart technical analysis and potential Elliott Wave counts
Bharat Electronics 4H chart is highlighting the sub waves after Minor Wave 3 terminated around 325 mark. Wave 4 was sharp to drop around 229 on June 03, 2024 and since then Minor Wave 5 is unfolding. Further, Minute Waves ((i)) and ((ii)) could be complete around 342 and 260 levels respectively. If correct, Minute Wave ((iii)) could be now underway. Bottom line is 229 for bulls to remain in control.
Conclusion
Bharat Electronics seem to be progressing higher within Minute Wave ((iii)) of Minor Wave 5 Grey against 229 mark.
Bharat Electronics Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD bounces off lows, back near 1.1330
EUR/USD meets daily support around the 1.1300 neighbourhood, managing to regain pace and revisit the 1.1330 region. Sentiment turned after President Trump proposed a “straight 50% tariff” on European imports, undermining the pair’s bullish momentum.
GBP/USD eases from tops, revisits the 1.3500 zone
GBP/USD benefits from broad US Dollar weakness, climbing to its highest level since February 2022 past 1.3500 at the end of the week. UK retail sales data surprised to the upside in April, lending extra wings to the quid.
Gold keeps the bullish tone near $3,350
Gold extends its weekly advance, trading around $3,350 per troy ounce on Friday. The rally in XAU/USD is driven by broad-based weakness in the Greenback, particulalry after President Trump’s threat to impose 50% tariffs on European imports.
Apple stock sinks below $200 after Trump threatens more tariffs Premium
Trump grows irate at Apple's move into India. President claims Apple must produce US-sold iPhone in US or face a 25% tariff. US equity futures slip more than 1% in Friday premarket after Trump threatens the EU with a 50% tariff.
Ripple Price Prediction: Whale accumulation sparks hope as rising exchange reserves signal caution
XRP sustains mid-week recovery as XRP/BTC flashes golden cross for the first time since 2017. Large volume holders increase XRP exposure, indicating rising demand and investor confidence.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.