EASY TRIP PLANNERS LTD Chart (Elliott Wave Perspective)Overall Trend:
The stock has been in a prolonged downtrend since reaching its peak.
The price structure suggests it is in a corrective phase based on Elliott Wave Theory.
Wave Count Analysis:
The chart shows a five-wave impulse, followed by a ZIG ZAG 5-3-5 corrective structure.
The C wave is currently unfolding and appears to be in its final stages.
Projected Price Movement:
The price is expected to form a wave (iv) retracement before continuing lower to complete the final (v) wave of C.
The projected target for wave (v) of C is in the ₹9 - ₹7.50 range.
There is a potential invalidation level at ₹20.46, meaning if price breaks above this, the bearish count might be reconsidered.
Key Levels to Watch:
Support Zone: ₹9 - ₹7.50 (Potential bottom for wave C)
Invalidation Level: ₹20.46 (Break above may suggest a reversal)
Bearish & Bullish Possibilities:
Bearish Case : If the stock follows the Elliott Wave count, it could complete its correction towards the ₹9 zone before any significant recovery.
Bullish Case: If the price moves above the ₹20.46 invalidation level, a potential trend reversal could be in play.
🚨 Disclaimer: The content shared is for educational and informational purposes only and should not be considered financial advice, investment recommendations, or trading signals. I am not a SEBI-registered analyst or advisor. Always conduct your own research and analysis before making any financial decisions. Trading and investing involve significant risk, and past performance is not indicative of future results. I may be completely wrong in my analysis. Please consult a professional financial advisor before making any investment decisions.
