ABCAPITAL Elliott Wave Study

TF - Monthly -

Aditya Birla capital had broken out descending trendline at 80. But, due to supply pressure, it couldn't make a new high again. It ends up making the same high(double top).
AB CAPITAL has made a monthly consolidation range of 139 - 95

As per the monthly chart, AB CAPITAL can take support from 78.05.

Three reasons to consider this level:
1. AB CAPITAL has given five touches to this level.
2. AB CAPITAL had taken support and broken up the trendline.
3. AB CAPITAL can retraced 61.8% at 76.45, which is demand zone.

If AB CAPITAL breaks down to 90, then it will come to take support near 78.05.

TF: Daily -

AB CAPITAL has completed corrective waves A & B. Wave C of wave 4 is about to completed.

We are getting similar confirmation that if AB capital breaks down to 90.05, we can expect a support level of 78.05.

As per Elliott wave, wave 4 can complete near the previous 4th wave of lower degree.

Wave 4 of lower degree is a 78.50. We got the confluence zone as 78.05. After taking support level, AB CAPITAL will start its upward march.

I will update more information soon.
Thank you!
@Money_Dictators

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Price reached 90 to 144.

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I am back with my work :)

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ATH ABCAPITAL - 162.45