BAJAJ FINANCE ELLIOTT WAVE ANALYSIS

Elliott wave Analysis Bajaj Finance chart

Date of analysis: FEB 25th, 2023

FEB 24th, 2023. Friday close @ 6326.25

The monthly chart, it is showing bullishness with a  Minimum target of 15360 As per 

Elliott wave analysis Scrip runs into a 3rd (34%) Primary wave with a price target of 15360,

This target may reach within 108 weeks to 162 weeks time frame. Now we are in the 5th week. 

The bullish trend was identified in the 5th week. 103 weeks remain to wait, a very long way 

to go reach the target.  

The due date of a target is 14-02-2025

This primary wave will come in the form of 5 sub-waves as Intermediate waves. In this, 

we are in the initial stage of 3rd Intermediate wave (21%) 

The weekly chart, it is showing a limited pullback downtrend with a target of 5982 with 

a minimum time frame of 4 weeks, Now 2 weeks have been already completed. 

Now we are in 3rd week. (27-02-2023 to 03-03-2023) 

If the price comes first it is good to take the Buy position with stop loss 5644 and 

sometimes time will come first, then we have to check sub-wave formation, and after that, 

think to initiate the Buy position.