RS SOFTWARE-CHART PATTERNS AND ELLIOT COUNTS- AN INVESTMENT PICKHELLO FRIENDS,
Here I have shared chart pattern and possible ELLIOT WAVE counts of RS SOFTWARE, which showing the uptrend of this stock.
As per chart pattern, this stock is following the CUP AND HANDLE PATTERN
which shows the BULLISH TREND of the stock.
the above image confirms that as per guidelines of Cup and Handle pattern, volume contraction must be there while forming cup
after giving breakout with significant volume, the stock retested the support trend-line which previously was resistance and started its continuation in upward direction.
As per Elliot Wave, Stock has completed its correction as WAVE ABC from 829 level to 9.55
New impulse BIGGER WAVE 12345 has started from 9.55 and now stock is in wave (5) that will complete the bigger wave 1
And wave 2 will again give a dip as correction and again bigger Wave 3 will start.
This way the stock has huge space towards north.
DISCLAIMER
I am not SEBI registered analyst.
My studies are for educational purpose only.
please consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
