Adani Green Energy Stocks Elliott Wave Technical Analysis – Friday, October 25

ADANI GREEN ENERGY – ADANIGREEN (1D Chart) Elliott Wave Technical AnalysisFunction: Larger Degree Trend Higher (Intermediate degree, orange)Mode: MotiveStructure: ImpulsePosition: Minute Wave ((ii)) NavyDetails: Minute Wave ((iii)) Navy should resume higher within Minor Wave 5 Grey of Intermediate Wave (5) Orange until 1535-40 hold. A break lower would change the proposed wave count. Please remain cautious on the long side.Invalidation point: 1535ADANIGREEN Energy Daily Chart Technical Analysis and potential Elliott Wave Counts:ADANIGREEN Energy daily chart is suggesting Intermediate Wave (5) pushing higher towards 3050 levels going forward. The stock has dropped to 1636 at the time of writing and needs to hold above 1535 to hold the bullish structure.ADANIGREEN Energy terminated Intermediate Wave (4) Orange around 430 mark in March 2023. Earlier, the stock rallied through 3050 highs, Intermediate Wave (3), before collapsing as a flat A-B-C to 430 levels. Since then Intermediate Wave (5) could be seen progressing higher.Further, Minor Waves 1 through 4 look complete and Minor Wave 5 could be unfolding against 1535 If prices break below 1535 from here, it would void the bullish count presented here.  ADANI GREEN ENERGY – ADANIGREEN (4H Chart) Elliott Wave Technical AnalysisFunction: Larger Degree Trend Higher (Intermediate degree, orange)Mode: MotiveStructure: ImpulsePosition: Minute Wave ((ii)) NavyDetails: Minute Wave ((iii)) Navy should resume higher within Minor Wave 5 Grey of Intermediate Wave (5) Orange until 1535-40 hold. Minute Wave ((ii)) could be an expanded flat as labelled. A break lower would change the proposed wave count. Please remain cautious on the long side.Invalidation point: 1535ADANIGREEN Energy 4H Chart Technical Analysis and potential Elliott Wave Counts:ADANIGREEN Energy 4H chart highlights the wave structure from Minor Wave 3 and forward. Please note Minor Wave 4 was sharp and complete around 1535-40 range on June 05, 2024. Since then, Minor Wave 5 could be unfolding. Also note Minute Wave ((ii)) might be complete around 160 at the time of writing. If correct, Minute Wave ((iii)) should resume higher soon. Conclusion:ADANIGREEN Energy might be ready to unfold Minute Wave ((iii)) higher, within Minor Wave 5 of Intermediate Wave (5) Orange, against 1535.More By This Author:Elliott Wave Technical Analysis: Bitcoin Crypto Price
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