TATA CONSUMER PRODUCT – TATACONSUM (1D Chart) Elliott Wave Technical Analysis
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Minor Wave 4 might have unfolded as a combination, terminating around the 1000 mark. If this is accurate, Minor Wave 5 should be underway shortly.
Elliott Wave Analyst:
Harsh JapeeTATA Consumer Product – Daily Chart Technical Analysis and Potential Elliott Wave Counts:The TATA Consumer Product daily chart suggests a continued rally as Intermediate Wave (5) Orange unfolds. The stock looks set to push through the 1255 mark as Minor Wave 5 Grey begins to develop from levels below 1000.Intermediate Wave (4) Orange was completed around the 640 levels in March 2022. Since then, Minor Waves 1 through 4 may have reached or are nearing completion. Note that the wave counts have been adjusted from our last update, with Minor Wave 4 now marked as a combination.Additionally, the Fibonacci 0.50 retracement and channel support confirm the potential termination of Wave 4 around the 1000 mark. If this is correct, Wave 5 Grey should continue its upward movement, aiming to breach the 1255 mark.TATA CONSUMER PRODUCT – TATACONSUM (4H Chart) Elliott Wave Technical Analysis
Details:
Minor Wave 4 might have unfolded as a combination, terminating around the 1000 mark. A Minute ((w)) – ((x)) – ((y)) structure has been identified, confirming a 3-3-3 pattern. If accurate, Minor Wave 5 should soon begin.
TATA Consumer Product – 4H Chart Technical Analysis and Potential Elliott Wave Counts:The 4H chart for TATA Consumer Product highlights the sub-waves between Minor Wave 3 and 4 Grey. This structure is identified as a 3-3-3 pattern, labeled as Minute Waves ((w)) – ((x)) – ((y)), between the 1255 and 990 levels. If this pattern holds, the stock should rally from its current position as Minor Wave 5 begins to unfold.Conclusion:TATA Consumer Product may have completed Minor Wave 4 around the 1000 mark as a combination. If this is accurate, Minor Wave 5 Grey should now be unfolding higher.Elliott Wave Analyst: Harsh JapeeMore By This Author:
