BAJAJFINSV Elliott Wave technical analysis [Video]

BAJAJ FINSERV Elliott Wave technical analysis

Function:Counter Trend.

Mode:Corrective.

Structure:Navy Blue Wave 2.

Position:Gray Wave 3.

Directionnexthigherdegrees:Navy Blue Wave 3.

Details:Navy Blue Wave 1 appears complete; Navy Blue Wave 2 is currently unfolding.

Cancel invalid level:1550.74.

Thedaily Elliott Wave analysisfor BAJAJ FINSERV identifies acounter-trend correctionwithin a larger bullish structure. The current focus is onNavy Blue Wave 2, which forms part ofGray Wave 3in the higher-degree wave pattern. The impulsiveNavy Blue Wave 1is likely complete, and the chart suggests that the stock has entered thecorrective phase of Navy Blue Wave 2.

A key technical level to watch is1550.74, which is the invalidation point. If the price moves below this level, the current wave structure would be invalidated. The day chart helps traders clearly observe thiscorrective phasewithin the broader trend structure.

OnceNavy Blue Wave 2completes, the analysis expects a transition intoNavy Blue Wave 3, which would resume the primary upward movement. This highlights a likely continuation of the broader bullish trend.

The analysis also highlights theimportance of wave degree relationships, whereNavy Blue Wave 2serves as both a short-term setup and a part of the largerGray Wave 3pattern. Traders should monitor signs typical of corrections such asthree-wave formationsorsideways movement.

This setup suggests that traders wait forconfirmation of the correction’s completionbefore entering new positions. The currentcorrective wavepresents potential opportunities forshort-term tradeson pullbacks and also forlong-term investorsplanning to ride the continuation of the main trend.

BAJAJ FINSERV Elliott Wave technical analysis

Function:Counter Trend.

Mode:Corrective.

Structure:Navy Blue Wave 2.

Position:Gray Wave 3.

Directionnexthigherdegrees:Navy Blue Wave 3.

Details:Navy Blue Wave 1 appears to be complete; Navy Blue Wave 2 is now underway.

Cancel invalid level:1550.74.

Theweekly Elliott Wave analysisfor BAJAJ FINSERV offers a broadcounter-trend outlook, highlighting acorrective phasewithin a larger bullish trend. The key structure under review isNavy Blue Wave 2, which forms part ofGray Wave 3in the extended wave count. Market analysts note thatNavy Blue Wave 1’s impulsive leghas likely ended, and the stock is currently going through thecorrection of Navy Blue Wave 2.

Theweekly charthelps traders and investors assess the stock’s position within a higher time-frame, showing howNavy Blue Wave 2fits intoGray Wave 3’s upward movement. The level of1550.74is established as acritical invalidation point—if the stock price breaks below this, the current wave count could be reconsidered.

This wave analysis places strong importance onwave degree relationships, recognizingNavy Blue Wave 2as both amedium-term trading opportunityand a part of the broaderGray Wave 3rally. Typicalcorrective behaviorsuch asthree-wave formationsorsideways consolidationshould be monitored closely during this phase.

The setup advises investors to wait forclear signs of correction completionbefore making major moves. Theweekly timeframegives essential insight forposition tradersplanning bothshort-term tradesandlong-term strategies.

Technical analyst:Malik Awais.

BAJAJ FINSERV Elliott Wave technical analysis [Video]