Arihant Capital Markets Ltd. Riding the 5th Wave Impulse

Arihant Capital Markets Ltd: Riding the 5th Wave Impulse

Daily Time Frame:

Elliott Wave Analysis: Arihant Capital Markets appears to be in an impulse move on the daily time frame, with completion of wave 4 as a correction.

Current Stage: Unfolding wave 5, with (i) and (ii) completed and a potential unfolding of wave (iii).

Price Targets: Anticipating levels of 96 and 104 plus.

Invalidation Level: A strict invalidation set below 63. Current Price Trading near 76.

Technical Indicators:

Breakout Confirmation: Price has given a breakout on the daily time frame with significant volumes.

Indicator Alignment: Major indicators like MACD, RSI, RK's Magic, RK's Brahmastra, etc., are aligning positively, supporting the bullish bias.

Snapshots: Attached snapshots of the indicators for reference.

Elliott Wave Concept - 5th Wave Impulse:
The 5th wave in Elliott Wave theory is often an impulse wave that signifies the final leg of a trend.
Impulse waves are characterized by strong, directional price movements.
Wave (iii) within wave 5 is typically the most powerful and extends higher, often exceeding the peaks of wave (i).

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Hope this post is helpful to community
Thanks
RK💕

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Breakout with good intensity of Volumes on Daily and Hourly time frames

RK's Magic says positive on Daily

RK's Brahmastra says Positive bias on Daily

Possible Elliott wave structure could be this

MACD on Daily is positive and Strong enough

MACD on weekly too

RSI showing good strength on Daily chart