Bajaj Finserv Ltd. Elliot Wave Theory AnalysisI have performed Elliot Wave Theory analysis on BAJAJFINSV daily time frame.
The internal wave counts are not shown on the charts as they get cluttered.
Wave 2 retraced 0.65%
Wave 2 is a sharp correction
Wave 3 was calculated with the Fib Extn tool starting from wave 1—end of wave 1—end of wave 2. It is precisely 1.618%, which signifies that wave 3 is extended. However, the target for wave five should be between 0.618 and 1% when you project it from the start of wave 1—end of wave 3 to the lowest bottom of wave 4 (mostly sideways).
Alternate for corrective wave
If wave 2 of an impulse is a sharp correction, expect wave 4 to be a sideways correction and vice versa.
