RBL Bank Elliott Wave Analysis

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RBL Daily chart
On the first Friday of August 2020, RBL bank gave a bullish break in a falling channel which opens positive possibilities and also resumption of major trend to follow, which in this case is up. It was up by 10% on the day of breakout and this uptrend will continue to go on.

As per Elliott wave analysis, prices have completed wave iv at 160 levels and has started moving in a positive note in the form of wave v which can test 61.8% from wave i-ii-iii to wave iv.

In short expect prices to soar for couple of weeks till 225 levels where cluster of resistances are placed, the support will be at 170.

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Comments

Phani Kumar said…
This Information is really good and informative. Thanks for it.
Check below links and get useful information.
Nahar Polyfilms Ltd
Pradeep Metals Ltd
21 October 2020 at 15:41
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