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pradipandsuvra

GATI: Consolidation with a patten repetition of June'2020

pradipandsuvra  
NSE:GATI   None
Chart Patterns Elliott Wave indianstockmarket consolidationzone GATI
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chartpattern elliottwaves indianstockmarket consolidationzone gati
NSE:GATI I am seeing few interesting observations:

  • It looks like a fresh EW wave formation started from 20/06/2022, after completion of previous wave since June 2020.
  • Now the current wave-1 replicates the same price-action of June'20 to Dec'20, starting from June'22 to till date.
  • It can be viewed as a Pole-and-Flag also, where the price action moves up and then consolidating. We are actually now a consolidation phase.
  • It can be viewed as a W pattern as well (shown as dotted W with a dotted neckline).

Support is at 158 level; Resistance is at 190 level. It's presently neutral, consolidating. So neutral as of now.



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