HINDALCO Gearing Up for Wave 5? Entry Zone Locked In for Swing!

📊 HINDALCO – Elliott Wave Analysis (1H Timeframe)
Textbook 5-wave impulse in play – Wave 4 nearing completion

Structurally clean setup with ideal R:R and defined invalidation. High probability long opportunity forming.

🧩 Wave Structure:

1. [] Wave 1 to 3 completed; Wave 3 peaked with momentum
   [] Current correction forming a classic ABC zig-zag in Wave 4
   
2. Subwaves 'a' and 'b' completed; 'c' approaching ideal completion zone
   

🔎 Technical Confluence Zone:

• [] Wave 4 Fib Retracement: 38.2–61.8% of Wave 3 → ₹680–663[] Support Structure: Aligns with Wave C zone = ₹680–683[] Price action showing slowdown → low volatility candles + buyer absorption
  [] Entry zone aligns with high-probability reversal structure
  

🎯 Upside Targets (Wave 5 Projection):

• [] First Swing Zone: ₹739–754
  [] Second Swing Zone: ₹791–813
  

🛑 Stop-Loss Zones:

• [] Intraday SL: Hourly close below ₹679.20
  [] Positional SL: Day close below ₹661.75
  

📈 Reward Potential:

• [] R:R ratio: 6.2+[] Structure offers clear risk management and ideal swing setup
  

A must-watch for swing traders and Elliott Wave learners. Let price react at ₹680–683 zone for confirmation before entry.

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