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Elliott Wave

Waves Gone Wild: Understanding Complex CorrectionsUntangling the Mystery of Complex Corrections – A Simple Walkthrough Using CUMMINS INDIA Ever wondered why the market suddenly becomes messy and confusing after a big rally? Welcome to the land of Elliott Wave corrections, where things aren't always a straight road—but if you know the signs, you won’t get lost. Let’s break it down using a real chart – CUMMINS INDIA , where we can spot all types of corrections playing out like a drama series. Step 1: Why Do Corrections Happen? Corrections mostly show up in Wave 2 and Wave 4, which come after a strong trend (Wave 1 or 3). The job of corrections is simple – to cool things down before the next move. Step 2: The Simple Ones – Flats and Zigzags Zigzags (Pattern: 5-3-5): Wave A: 5 waves Wave B: 3 waves (does not cross the start of A) Wave C: 5 waves, usually equal to or 1.618x of A Zigzags are sharp and directional – like a quick jab. Flats (Pattern: 3-3-5): All about sideways movement. The B wave often ends near or slightly above/below A’s start – forming what we call expanded flats (hello, double tops and bottoms!) C wave finishes things off with 5 waves. Flats are more chill – like the market catching its breath. Step 3: The Slow Builders – Triangles Triangles are like coiled springs. They’re made of five legs: A-B-C-D-E, all 3-wave moves. These usually show up in: Wave 4 of an impulse Y wave inside complex corrections Think of triangles as the calm before the final push. You’ll often spot them before Wave 5 explodes. Step 4: When One Correction Isn't Enough – Enter WXY Imagine the market says, “One ABC correction? Nah, let’s keep going.” WXY: Two corrections joined by an X wave. W = ABC X = ABC (a connector) Y = ABC again So it’s like: ABC + ABC + ABC Step 5: When Even That’s Not Enough – The WXYXZ Beast Sometimes the market just doesn’t want to move on. So it throws in another ABC. WXYXZ: That’s three ABC corrections, joined by two X waves. If that’s still not enough? (Yes, this happens) The whole mess becomes just Wave W of another larger correction. Fun, right? CUMMINS INDIA – The Perfect Textbook Example In the chart: You’ll see flats, zigzags, triangles, all wrapped inside a giant WXYXZ correction. It spanned months, unfolded in layers, and just maybe, it’s done now. From April onwards, the move looks impulsive (non-overlapping), hinting at a fresh trend. Or… is it just a big Zigzag in disguise? (C = 1.618 × A, remember?) Only time (and maybe a bit more charting) will tell. Final Thoughts There are amazing books, and thousands of charts to study if you’re serious about learning. "Give a man a fish, he eats for a day. Teach him how to fish, he eats for life." Trading is the same. Learn the process. Dont chase the calls. I’m just sharing what I’ve learned with this post. Hope it helps someone out there. Happy charting, and remember— no one is ever 100% right. Stay curious. Stay humble. Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
NSE:CUMMINSIND
by WaveXplorer
Nifty - Elliot Wave UpdateNifty has been testing patience and not letting anyone take positional trades since mid of May. 24500 has acted as a crucial support - and as we come to re-test it today for the 3rd time, I thought of updating the view after my last post on May 15th, as we have a good RR long trade here. We had two alternates: 1. We are in 5th up/ which got done, is about to be done. In this case we head down to 23500 or so and then we review if this bounce was corrective or we are going to ATH. 2. We did 1 and 2 and have started 3 up. Within 3 we started the 3rd up today. If this is true, the run up should continue for next few days. Now, possibility 2 remains as it is, but possibility 1 has changed to look like a leading diagonal. So, instead of 12345 (where 1 and 4 cannot overlap), we are moving up in ABCDE (where A and D can overlap). My view is that we have E up pending - and since we have taken so much time in D, more room is getting opened in E up (top of the wedge structure) - which was 25300 earlier, and is now looking at around 25700 - which is a good 1200 points from here. This move up will also test the bottom of the longer channel we followed from March 2023 and broke in Jan 2025. So, a first test of that channel would mark as a good point for wave 1 to end and a correction to begin till 24000-23800. 24500 breaking and sustaining should act as SL. So, we have a good trade set-up at hand to play till 25500 or 5 wave up, whichever happens first All the best!
NSE:NIFTYLong
by pankajarora232
1
CDSL – Leading Diagonal Kicking Off a Bullish Cycle?A possible new bullish impulse may be forming in CDSL, following a strong corrective downtrend. From the ATH at ₹1989.80, the stock completed a 5-3-5 Zigzag correction that bottomed out at ₹1047.45. The final leg (Wave C) shows the characteristics of an Ending Diagonal , signaling possible exhaustion and the end of the correction. From that low, the structure that follows appears to be a Leading Diagonal , possibly acting as Wave 1 of a new motive sequence. Despite its expanding nature, Wave 3 is not the shortest , and trendlines are respected — validating the diagonal structure. This upward move has completed five waves, currently labeled as Wave (1), (2), (3), (4), and (5), which together form a larger Wave (A) . If this structure turns out to be impulsive , this may not just be an ABC correction, but the start of a full 5-wave impulse: 1 → 2 → 3 → 4 → 5 Now, we’re likely entering a Wave (2) correction, typically retracing 0.382 to 0.618 of Wave (1) . This retracement could break below the diagonal trendline , shaking out late bulls. Post that, if the structure holds, we may see a strong Wave 3 advance — usually the most powerful leg in any impulse. This is a hypothesis, and structure confirmation will be key. If price fails to hold support zones or shows structural invalidation, the count will need to be revised accordingly. Tools Used: Elliott Wave, Fibonacci, Trendlines Timeframe: 2H This is not a buy/sell recommendation — purely an educational analysis. Chart will be updated as price action evolves.
NSE:CDSLLong
by WaveXplorer
5
Zigzag in Play- Can Wave C deliver the goods for ESCORTS KUBOTA?ESCORTS KUBOTA – A Zigzag Taking Shape Structure Summary: ESCORTS may be unfolding a classic Zigzag correction (5–3–5) from the low at ₹2,825.20. Wave A formed a clean leading diagonal. Wave B is currently developing and is expected to end near the 0.382–0.5 retracement of Wave A. If this structure holds, we could soon see a powerful Wave C impulse aiming for the 4,000+ zone. Elliott Wave View: Wave A : Leading diagonal from ₹2,825.20 to ₹3,616.60 Wave B : Still developing – may complete near ₹3,233.80 (0.5 retracement) Wave C : Expected to be a 5-wave impulse targeting: ₹4,025.60 (1.0 × Wave A) ₹4,514.70 (1.618 × Wave A) Key Levels to Watch: Wave B Support Zone: ₹3,233–₹3,102 Target 1: ₹4,025.60 (equal to Wave A) Target 2: ₹4,514.70 (1.618 × Wave A) Invalidation : Below ₹3,102 → Zigzag scenario fails, alternate count required Note: Wave C, if it triggers, should develop as a 5-wave impulse. Price action around the retracement zone will decide whether bulls still have control. Disclaimer: This is part of the educational WaveTracker series. It is not a trading recommendation. Always DYOR and manage risk wisely.
NSE:ESCORTSLong
by WaveXplorer
Forecast for Long Term for INJUSDT -- Current Market Overview -- Price (as of May 28, 2025): INJ/USDT is trading at approximately $15.01, with a 24-hour increase of 4.93–10.79% and a weekly gain of 23.1–24.94%. # Market Sentiment: Recent Wave indicate bullish sentiment, with analysts noting a breakout from a monthly demand zone and support at a weekly fair value gap (iFVG). The price has broken a higher-time-frame (HTF) downtrend, suggesting potential for further upside. Market Cap and Volume: INJ has a market cap of $1.5B and a 24-hour trading volume of $218.9M, reflecting strong liquidity and interest. -- Technical Analysis -- Price Action and Key Levels # Support: The price recently found support at the $9.32–$10.00 demand zone, with a low of $6.5 in the past six months. The weekly iFVG and monthly demand zone around $10–$11 have held, acting as strong support. Resistance: Key resistance levels are at $16.13 (short-term), $20–$25 (weekly target), and $33 (top of a multi-year descending wedge). A break above $16.13 could signal a mid-term swing toward $48. Price Structure: INJ is in a bullish phase, having broken out from a descending wedge on the weekly chart and reclaiming the 21-day EMA. The price is trading above the 50-day SMA ($10.02) and 200-day SMA ($14.03 projected for June), indicating bullish momentum. -- Disclaimer -- This analysis is based on recent technical data and market sentiment from web sources. It is for informational purposes only and not financial advice. Trading involves high risks, and past performance does not guarantee future results. Always conduct your own research or consult a SEBI-registered advisor before trading. Boost and comment will be highly appreciated
Long
by renderwithme
4
Nifty’s Final Shakeout? Ending Diagonal May Be the Exit ClueNifty appears to be unfolding a WXY corrective structure: Wave W ended at 24,462.40 Wave X bounced up to 25,079.20 The current decline looks like Wave Y, forming a classic ending diagonal Ending Diagonal Details: Overlapping waves with a contracting structure Final Wave 5 of the diagonal may be unfolding now Invalidation level (for stop-loss logic): 24,864.25 If price moves above this, the wave structure is likely invalid Target Zone: Wave 5 projected to complete between 24,522.55 and 24,311.50 (using 1x to 1.618x of Wave 1 within the diagonal) Summary: If the diagonal plays out, a breakdown toward the green box is likely. Above 24,864 , the setup is invalid. Watch price action closely.
NSE:NIFTYShort
by WaveXplorer
Setup Intact, Eye on Wave 5?This is a follow-up to my earlier analysis on Canara Bank, where we identified the completion of an ABC correction and the start of a fresh impulse. What’s happened since: Price respected the projected Wave 3 (yellow) target of 109.50 – exactly 1x of Wave 1. A healthy correction is underway, likely forming Wave 4 (yellow) . The pullback is holding within the 0.236–0.382 retracement zone (105.12 to 102.63) – make-or-break zone . What’s next: If the structure holds above 102.63, a bullish Wave 5 (yellow) may extend the rally toward the 120+ zone, completing Wave 3 (green). Break below 102.63 invalidates the count and opens the door to a more complex correction. This is for educational purposes only.
NSE:CANBKLong
by WaveXplorer
JIOFIN – Expanded Flat? Wave C on RadarSince the last analysis, price dipped to ₹270.35 (near 0.236 retracement), then bounced sharply to ₹284.70 — breaking the Wave 5 high. This move confirms a Wave b rally that extends 159% of Wave a, a classic signature of an Expanded Flat correction. What this means: Wave b has trapped breakout buyers. Expect Wave c next — likely a sharp decline below ₹270.35 to complete the correction. RSI still shows divergence and momentum looks tired. Watching for: ₹265–₹255 as potential Wave c landing zone. Reclaiming ₹285+ invalidates this short-term correction view. Structure remains educational. Stay sharp.
NSE:JIOFINShort
by WaveXplorer
1
Technical Analysis of DXY (US Dollar Index) for the Week of May # Current Price Action and Market Context Recent Price Movement: As of May 23, 2025, the DXY closed at approximately 99.11, down 0.85% from the previous session's close of 99.96. The index has been trending downward, testing two-week lows near 99.14 after failing to reclaim the 100.50 level. Bearish Momentum: The break below 97.50 on the monthly chart signals a bearish structure with lower highs and lower lows, suggesting continued selling pressure. The next major downside target is around 96.00, with a potential longer-term target near 92.00. Key Fundamental Drivers: Recent weakness in the DXY is attributed to President Trump’s proposed 50% tariffs on European imports, which have undermined bullish momentum in the dollar. Additionally, anticipation of Federal Reserve interest rate decisions, upcoming US inflation data, and employment reports (e.g., Non-Farm Payrolls) will play a significant role in the DXY’s direction. -- Chart for your reference -- -- Disclaimer -- This analysis is based on recent technical data and market sentiment from web sources and X posts. It is for informational purposes only and not financial advice. Trading involves high risks, and past performance does not guarantee future results. Always conduct your own research or consult a SEBI-registered advisor before trading.
TVC:DXYShort
by renderwithme
TTML: Unlocking Potential with Elliott WavesHello friends, Welcome to RK Chaarts.! Let’s analyse the chart of Tata Teleservices Maharashtra Limited from an Elliott wave perspective. We can see that in March 2023, the stock formed a bottom around 49.65 and then moved upwards in an impulse wave. We can identify wave one as complete, ending around the July 2024 high. After that, there was a sudden fall to the April 2025 low, which we assume to be the end of wave two. We expected it to reverse around the previous low, because wave II cannot retrace more than 100% of wave I (Elliott wave principles), and Same happened, it had reversed from that low to upside. Looking at the weekly chart, we can see that post wave II, price has broken the 0-B trend line with strong volume intensity. If our wave counts are correct, we can measure wave I and project wave III’s target using Trend based Fib extensions as per Elliott wave theory. According to the theory, wave III target could be around 150.70, which is 1.618 times the length of wave I. Projected Targets as per Elliott waves: So, friends, from an Elliott wave perspective, Tata Teleservices has strong potential to move upwards to around 150 rupees, with potential targets at 88, 112, 127, and 150 rupees. Invalidation levels: Please note that this analysis is for educational purposes only and involves multiple possibilities. The scenario presented focuses on one potential outcome, assuming the invalidation level of 49.65 is not triggered. If it is triggered, the chart would need to be reassessed, and wave counts would need to be reevaluated. This is not a tip or advisory, but rather a educational analysis. 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. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Chaarts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Chaarts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:TTMLLong
by RK_Chaarts
3
INTU seems to have completed Correction and heading towards ~700INTU seem to have completed complex ABC correction,. Its last corrective leg had XYZ correction (provided we see break out from current segment) It seem to be heading towards ~700 in coming weeks/months Can the pattern change ? Yes we may have a Z wave hitting channel bottom, or one more larger ABC may play out for next few months (this is low probability) If any one needs larger time frame wave structure do comment so that I can share the road map that I see with INTU.,
NASDAQ:INTU
by jsgadgil
2
Finding Market Clues with Simple ToolsThis is not a trade I took — just an observation I found fascinating and wanted to share. In ANGEL ONE’s recent price action, I applied a simple 3-step process: Identify a turning point Spot a potential 5-wave Elliott Wave structure Look for RSI divergence at key highs/lows After a sharp downtrend, price made a lower low while RSI showed a higher low — hinting at a possible bullish reversal. Later, price moved up in what could be a 5-wave structure. But near the top, price made a higher high while RSI made a lower high — a possible bearish divergence. I didn’t trade this setup — but it’s fascinating how often these simple techniques reveal potential market shifts. It’s not about being right every time, but about learning to read the market structure better. Books like Elliott Waves Made Simple by Steve Sinclair have helped me more than any social media post. They teach you to think with structure, not noise. This isn’t a buy/sell recommendation. Just sharing something I’m practicing. Mistakes will happen, but that’s part of the learning curve. The market is always there — it’s on us to keep improving our technical reading.
NSE:ANGELONE
by WaveXplorer
1
CDSL [Follow up] – Wave (5) Ending or Extending?The earlier hypothesis of a bullish impulse in CDSL saw Wave (5) completing near the 1.0 extension from Wave (4), right at the upper channel boundary — a strong confluence zone. On closer inspection, the internal structure of Wave (5) looks more like an A-B-C rather than a clean 1-2-3-4-5, hinting at possible exhaustion. This raises the likelihood that Wave (A)/(1) may already be in, and a Wave (B)/(2) correction could be in progress. Still keeping an eye on the 1.618 projection as a stretch target if the trendline breaks. Until then — structure confirmation is key. Tools: Elliott Wave, Fibonacci Projections Timeframe: 30min / 1H for intrawave clarity
NSE:CDSLShort
by WaveXplorer
Canara Bank – Impulse Wave in Play After ABC Correction?From the mid-June 2024 high, Canara Bank completed a textbook ABC correction, with Wave C terminating precisely at the 100% retracement of Wave A from B. This setup marked the end of the downtrend and the potential beginning of a new impulsive uptrend. The current structure shows a higher-degree impulsive move (marked in green), within which Wave 3 appears to be subdividing into its own smaller impulse (yellow count). Notably, Wave 3 (yellow) has completed exactly 100% of Wave 1 from Wave 2 at 109.50, which aligns well with common Fibonacci projections. A healthy retracement (Wave 4 of yellow) is now underway, typically expected to fall within the 0.236–0.382 retracement zone. This region is a critical make-or-break zone — sustaining above 102.63 keeps the bullish structure intact and sets the stage for Wave 5 (yellow), which could complete the larger Wave 3 (green). Once Wave 3 (green) tops out, a correction in Wave 4 (green) could unfold, again within the 0.236–0.382 retracement zone. Monitoring RSI divergence will be essential to identify exhaustion at the top of Wave 3. If the pattern continues to hold, Wave 5 (green) could push price to 130+ levels , assuming a minimum 1x projection of Wave 1 from the Wave 4 base. The structure remains valid only as long as 105.12 and 102.63 are respected . A deeper breakdown would suggest the count is invalid and we may instead be dealing with a complex W-X-Y-X-Z correction , with Z potentially unfolding below 78.60. Given that earnings and revenue reports in both Jan and May have been strong, the bullish case is fundamentally supported too. Still, alternate bearish counts must be kept in mind. This is a technical analysis for educational purposes only and not a buy/sell recommendation. Timeframe: 2hr Tools Used: Elliott Wave, Fibonacci Retracements, RSI
NSE:CANBKLong
by WaveXplorer
1
Jio Financial Services – Wave 5 Exhaustion? Retracement AheadJio Financial Services has completed a clean 1-2-3-4-5 Elliott Wave sequence, with each leg respecting Fibonacci levels well. From the Wave 4 low, price rallied and reached the 100% Fibonacci extension of Wave 1, marking ₹279.35 as a potential Wave 5 termination point. Key Technical Signals: Complete 5-wave impulse structure Wave 5 = 100% of Wave 1 Bearish RSI divergence at the top Volume shows signs of exhaustion These signals suggest that Wave 5 may have ended and a corrective phase could begin. Retracement Levels to Watch: A retracement from the top is expected toward: 0.236 level: ₹270.55 0.382 level: ₹265.10 Price action in this zone will help determine if this is just a correction or the start of a larger reversal. Indicators Used: Elliott Wave count Fibonacci levels RSI Volume Timeframe: 2H
NSE:JIOFIN
by WaveXplorer
1
EURUSD Chart Analysis : An Elliott Wave Approach Hello friends, welcome to RK Charts! Today, we'll analyse the EURUSD chart using Elliot Waves. This study is based on Elliot Wave theory and structure, which enables multiple possibilities. Please note that the possibilities outlined here are not definitive predictions, but rather potential scenarios. The provided information is for educational purposes only and should not be considered trading advice. There is a risk of being completely wrong, and users are warned not to trade or invest solely based on this study. We are not responsible for any profits or losses incurred. Individuals should consult a financial advisor before making any trading or investment decisions. Now, let's dive into the analysis. According to Elliot Wave principles, we're currently in a corrective pattern, which consists of ((A)), ((B)) and ((C)) patterns. We've completed ((A)) and ((B)) and are now unfolding ((C)). Within ((C)) we expect five sub-divisions, labeled as intermediate waves (blue bracketed): blue (1), (2), (3), (4) & (5). Almost four of these sub-divisions are completed, and we've just begun the (5). We've set an invalidation point at 1.1065, which is the recent low. If this low is not breached, we'll likely continue unfolding the (5) wave of ((C)), which should break above the high of wave (3). However, if the low is breached, it's possible that wave (4) is undergoing a double correction. Both scenarios are possible, and we'll continue to monitor the market's unfold. Scenario 1 Scenario 2 This study is a deep dive into Elliot Wave counts, aligned with the rules and principles of Elliot Wave theory, as well as higher time frame and higher degree analysis. I hope this analysis based on Elliot Wave theory has helped you understand the chart better and learn something new. Please keep in mind that this is for educational purposes only. 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. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Long
by RK_Chaarts
3
Muthoot Finance Futures – WXY Done? Bounce ExpectedA W-X-Y corrective pattern may have just wrapped up in Muthoot Finance Futures, with Wave Y potentially completing at ₹2086.50. The final leg of this correction formed a neat a-b-c structure and tapped into a rising trendline support, adding strength to the bullish setup. If price pushes above ₹2150–₹2180, that would break recent swing highs and hint at trend reversal. But a fall below ₹2086 would invalidate the structure and open doors for deeper downside. 🧭 Bias: Bullish (as long as price holds above support). 📘 Just sharing my wave-based view — not financial advice. Open to thoughts and feedback!
NSE:MUTHOOTFIN1!Long
by WaveXplorer