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Elliott Wave

Zee Entertainment – Wave 3/C on the Horizon?After topping near 151.44–151.70 (a neat double top), price corrected into 111.60 , completing what looks like Wave 2/B right around the 0.618 retracement. Now, signs of life are emerging: Volume has ticked higher, hinting at accumulation. RSI is forming higher lows and has regained strength above 50. The structure is shaping up for a fresh impulsive advance toward the 173–212 zone (1.0–1.618 extension). The path higher is expected to unfold as a 5-wave sequence, with Wave 3/C potentially targeting this blue zone overhead. ⚠️ Invalidation: A sustained move below 111.60 would negate this bullish sequence, opening the door for deeper correction. 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:ZEELLong
by WaveXplorer
Buy Piramal EnterprisesPiramal Enterprises has been in a strong uptrend since 3rd March, completing a clear 5-wave impulse sequence on 18th July. Post that, the stock entered a Flat corrective structure (3-3-5) : Wave A bottomed on 23rd July Wave B peaked on 30th July, slightly exceeding equality with Wave A The ongoing Wave C unfolded as a 5-wave decline, with a clear 3rd wave extension Today, the correction likely completed at 38.2% of the prior 0–3 leg (measured from 4), which also coincides with a 50% retracement of the overall impulse and the stock has formed a strong reversal candle. This confluence strengthens the case for a reversal. Trading Plan: Buy: Current levels (around 1170–1180) Target: Previous swing high near 1350 Stop-loss: 1128 Risk remains until wave 4 zone, i.e. 1191 This setup offers a favorable risk-reward as the corrective structure looks complete, paving way for the next impulse.
NSE:PELLong
by ChartTheWave
TCS – Wave 2 Correction Nearing Completion?TCS has been in a prolonged corrective phase since the all-time high at ₹4592. The decline has unfolded best as a W–X–Y double zigzag, with the current leg (Wave Y) progressing into its final stages. Wave W ended at ₹3056 after a sharp A–B–C decline. Wave X retraced to ₹3630. Wave Y is in progress, and its C leg appears close to exhaustion. A mini 4th-wave triangle has developed, suggesting a final push lower remains. The termination zone for Wave 2 is highlighted between ₹2926–₹2850, aligning with the prior Wave 4 support zone. Importantly, bullish divergence is likely to emerge on RSI if price makes a marginal new low. Key Levels: Support zone : 2926–2850 (probable Wave 2 low). Bearish invalidation : A sustained move above 3370 would invalidate the immediate bearish count. Bigger picture : If this structure holds, it would complete Wave 2 of a higher degree, setting the stage for a powerful Wave 3 rally ahead. 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:TCSLong
by WaveXplorer
MCX: A Higher-Degree Correction Begins After Wave 5 TopThe rally in MCX reached its climax at 9115, which now marks the completion of a full 5-wave impulse sequence. Wave 5 stretched to 1.618x of Wave 1 and was accompanied by RSI divergence, a classic signal of exhaustion. This makes the top at 9115 significant, not just as an all-time high, but as the end of a higher-degree cycle. From here, the market is unfolding into a higher-degree corrective phase. The immediate decline from the top appears corrective in nature, with an incomplete Wave B still in progress. While a triangle remains a possibility, the structure currently favors a simple ABC zigzag, implying that a C-leg down may follow. The important level to watch is 7048.60, the previous ATH. Price should ideally hold above this zone to preserve the broader impulsive character of the rally. A sustained move below it would weaken the bullish outlook and raise the risk of a deeper correction. At the same time, 9115 now serves as the bearish invalidation level. If price were to break above this peak, it would negate the current corrective view and open the possibility of a new bullish sequence unfolding. In summary, the long-term uptrend has reached a natural pause. The near-term focus will be on how the correction develops — whether 7048.60 can provide support or whether the corrective leg extends deeper, with 9115 acting as the critical line in the sand for bearish continuation. 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:MCXShort
by WaveXplorer
LIC (Life Insurance Corp of India) – At a Critical Support ZonePrice has pulled back into a strong demand zone, which has acted as a base since the early structure. If this zone holds, we could be looking at the start of Wave 5 thrust, with potential to retest recent highs near 980 and beyond. The RSI is holding higher lows , suggesting underlying strength despite the correction. However, risk management is key: If 874 support fails, then Wave 4 might not be complete yet, and price could slide further to retest the long-term trendline support (currently aligned near 760). The bullish invalidation for this count sits below 760. So, the playbook is simple: Above 874 → bias for Wave 5 continuation. Below 874 → extended Wave 4 correction toward trendline. Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Always do your own research (DYOR) before making trading decisions.
NSE:LICILong
by WaveXplorer
2
Asian Paints: Wave 3 Breakout or Wave 4 Still Dragging?Asian Paints seems to have completed a prolonged higher-degree wave 4 correction at ₹2124, marked by a complex overlapping structure. The subsequent rally has shaped into a 1–2, 1–2 sequence, pointing to the possibility of a strong wave 3 breakout. RSI momentum has been steadily rising since the ₹2124 low, and volume expansion adds weight to the bullish case. However, the price now faces a strong resistance band just overhead. For the bullish impulse to remain valid, wave 3 must cut through this zone decisively. Failure to sustain above it could indicate that wave 4 is still extending sideways, possibly evolving into a triangle or another complex form before the final push higher. The bullish invalidation remains at ₹2124 — any breakdown below this level would cancel the impulsive view and shift the bias toward further correction. 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:ASIANPAINTLong
by WaveXplorer
Tata Elxsi – The 4700 Line in the SandDaily Chart View Price action from the 9,080 peak into the 4,700 low unfolded as a complete 5-wave decline, ending with an ending diagonal. From that low, we can count a new 5-wave sequence beginning: Wave 1 up into 6,735 Wave 2 pullback now testing the 0.5–0.618 retracement zone A possible Wave 3 launchpad if the structure holds This sets up 4,700 as the line in the sand(Invalidation level) — a break below would invalidate the bullish impulse count. Weekly Chart View Looking at the bigger picture, the fall from 10,760 ATH into 4,700 can be read as a W–X–Y correction. If true, then the low at 4,700 completed the corrective cycle. From there, the current up-move could be interpreted as: Either 1–2–3 of a new bullish cycle Or an A–B–C corrective rally Either way, the bias is higher unless 4,700 breaks. A sustained move above 6,735 will strengthen the bullish scenario. Summary Primary View: New bullish sequence started from 4,700 Alternate: If 4,700 is breached, bearish continuation resumes Confirmation: Above 6,735, momentum tilts firmly bullish Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Always do your own research (DYOR) before making trading decisions.
NSE:TATAELXSILong
by WaveXplorer
Hero MotoCorp: Wave 1/A Hits Key Target ZoneHero MotoCorp has been advancing strongly from its March 2025 lows. The rise has unfolded as a clear 5-wave move, now labeled as Wave 1/A, which has just entered its 100.0%–161.8% extension zone of Minor Wave 1. Along the way, Wave 4 held support at the 38.2% retracement of Wave 3 , confirming the impulsive structure. RSI is now in the overbought zone, hinting that this leg may be nearing exhaustion. Looking ahead, two scenarios emerge: If this rally is Wave 1 , the next step would be a corrective Wave 2 pullback before a strong Wave 3 rally . If it is instead Wave A , then a Wave B retracement could follow before a final Wave C push higher . Either way, the immediate focus should be on how price reacts inside this blue target zone. A correction (Wave 2/B) is the natural expectation, with the larger 3/C rally still on the horizon. 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:HEROMOTOCOLong
by WaveXplorer
ULTRACEMCO: Wave C started from strong Fib clusterULTRACEMCO – Daily Chart Analysis 🔹 Base Point: The count begins from the low made on 3rd March 2025. 🔹 From this low, the price moved up in the form of a clear impulse wave, completing a 5-wave structure. 🔹 This was followed by a corrective fall, retracing 61.8% Fibonacci of the prior impulse. ⚡ Correction Phase: The decline is counted as an ABC Flat correction (red). Within this, the C wave extended fully to the 100% Fibonacci projection. At this point, we observe a strong cluster zone formed by the 61.8% retracement and 100% extension, indicating confluence and potential support. 📈 Current Development: From this support, the price has begun to move up again, showing the characteristics of a fresh impulse. The overall structure fits into a larger Zig-Zag correction, where Wave C is still under development.⏳ 📝 Summary: ✅ Impulse up (5 waves) ✅ Flat correction (A-B-C) complete at Fib cluster 🚀 Wave C of Zig-Zag unfolding #ULTRACEMCO #NSEStocks #ElliottWave #Fibonacci #WaveAnalysis #TradingSetup #PriceAction
NSE:ULTRACEMCO
by theprofityogi
Axis Bank: Zigzag Ended at 1.618, Diagonal Structure in PlayAxis Bank topped out at its all-time high (₹1,339.65) before entering a sharp ABC correction. Wave A fell to ₹1,124.30 Wave B retraced to ₹1,281.65 Wave C declined to ₹933.50, completing exactly at the 1.618 projection of Wave A from Wave B — a classic Zigzag termination. This precise completion at 933.50 set the stage for a potential new bullish cycle. From that low, Axis Bank has advanced in an overlapping fashion, typical of a Leading Diagonal. Price is now consolidating within Wave 4, unfolding as a complex W-X-Y-X-Z correction, hovering in the 0.5–0.618 retracement zone of Wave 3 (₹1,050–₹1,086). The invalidation level is ₹1,032.35 (Wave 2 low). As long as this holds, the bullish diagonal count remains valid. If Wave 4 is indeed complete, the next move would be Wave 5, with potential to break past the swing at ₹1,238.70 and eventually retest the ATH of ₹1,339.65. 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:AXISBANKLong
by WaveXplorer
Bata at a Crossroad – Is It Ready for a Relief Rally?From its 2021 peak, Bata appears to have completed a full 5-wave decline, labelled as Wave A of a larger A–B–C corrective structure. The decline began with a diagonal-like structure, signalling weakness right from the outset. It ended with an Ending Diagonal in Wave 5, a classic pattern of market exhaustion. RSI is deeply oversold, aligning with the possibility that Wave A has reached completion. With Wave A likely complete, attention now shifts to a corrective Wave B bounce. Typical retracement zones for Wave B lie between 0.382–0.618 of Wave A, i.e. ₹1,497 – ₹1,789. This remains the primary target area for the bounce before the larger downtrend resumes into Wave C. Once Wave B completes, the focus would turn to Wave C, which often mirrors Wave A in length, implying that the broader correction may not be over yet. 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:BATAINDIAShort
by WaveXplorer
Short Term SPX to hit a target of ~6800 post current correctionSPX is in a small time correction phase. Is the correction ended ? May not be, for it to prove correction has ended, price should show break out above current short term range., What are possibilities ? a) Price does a break out of current range and flows blue line to ~6800 target b) Price carries out ABC (RED ABC as marked) and bottom out around ~6200, then rise in impulse to hit a target of ~6800. When ? The view is time agnostic, so it may take weeks to months time.
FOREXCOM:SPX500
by jsgadgil
UNO Minda – Potential Wave V Extension in Progress - BuyUNO Minda completed its larger degree Wave V on 8 Jul 2024, followed by a correction in the form of a flat, which ended on 7 Apr 2025. Since then, the stock has been in a fresh impulsive sequence: Wave (i) completed on 21 Apr. Wave (ii) unfolded as a simple flat, ending on 2 May. Wave (iii) matched the length of Wave (i) (equality). Wave (iv) again unfolded as a simple flat. With Wave (i) and (iii) being equal in length, there is a high probability of a Wave (v) extension. Currently, Wave (v) is unfolding: Sub-wave (1) ended on 11 Jun. A larger flat correction followed, completed on 1 Aug 2025. Strong results for Q1’26, combined with increasing volumes and strong candles, confirm the possibility of a Wave V extension. ub-wave (3) of (v) is now in progress. Trading View Buy at current levels (in which case maintain a stop loss of 1055) or buy on next correction. Wave V extensions can stretch up to maximum of 1.618 × of Wave 0–iii.
NSE:UNOMINDALong
by ChartTheWave
Bajaj Holdings – End of Wave V: Time to Exit? Timeframe: Monthly Chart Bajaj Holdings appears to have completed a larger-degree Wave V, forming a 5th wave extension. Under Elliott Wave Principle, when Wave 5 is the longest, it typically extends 1.618 times the distance from Wave 1’s start to Wave 3’s end. In this case, Wave 5 has indeed traveled 1.618x of that measure, while Wave 3 extended 1.414x of Wave 1. Further internal wave counts align well with this structure, strengthening the case for a completed cycle. Conclusion: The larger 5-wave sequence looks complete. Investors and traders may consider exiting positions at this stage.
NSE:BAJAJHLDNGShort
by ChartTheWave
2
Buy Apollo Hospitals Apollo Hospitals completed Wave V of a new impulse on 8 July, precisely at the 78.6% retracement of the entire move from Wave 0 to Wave iii, projected from Wave iv. Since then, the stock has entered a corrective phase, and the pattern is shaping up as a Flat Correction. Structure So Far Wave A of the flat is complete, with sub-waves (B)–(C) finishing near a 1:1 ratio with sub-wave ((0)–(A) / sub-wave ((A)-(B)) as market in the chart. The stock has formed a bullish long-legged doji / hammer pattern. The next leg, Wave B (a counter-trend move), is now expected. In a regular flat, Wave B may retest the previous swing high. In an expanded flat, it can extend up to 1.38× the length of Wave A. What to Expect A possible upmove toward ₹7600, assuming Wave B unfolds as expected. Wave C would follow to complete the flat, but that would be addressed in a future update Trade Setup Buy Zone: Around current levels (₹7170) Target: ₹7600 Stop Loss: ₹7025
NSE:APOLLOHOSPLong
by ChartTheWave
2
Nifty's correction - What lies ahead? (update) This is further to my post titled “Decoding Nifty’s Correction: What Lies Ahead?” dated 29 July wherein I had mentioned that early predictions are risky unless at least one leg of the correction is fully formed. Based on the latest price action I am updating the idea. Since I am unable to post this as an educational idea (due to rules), I am putting it as a "short" post. In my earlier post, we discussed the unfolding correction in Nifty and outlined possible scenarios ahead. The latest price action has now breached the lower extreme of the previous swing, confirming that this move is part of a higher-degree five-wave sequence (7 Apr to 30 June). Hence, this opens the possibility of one of the waves being extended and there’s now a strong possibility that Wave (iii) of Wave A has gone for an extension. The sub-waves are aligning closely with key Fibonacci ratios, adding weight to this scenario (as can be found in the chart). If this is correct, then so far even Wave A is not yet complete. Key observations from the current chart: The internal structure of the correction is becoming clearer. Support and resistance zones from the larger degree are now in play. The next few sessions will be critical to determine whether we see a sharp completion or an extended sideways formation. I’ll continue to track and share updates as the pattern evolves. Implication: If what is presented is right, once Wave A completes, we may see the formation of Wave B (which is a counter wave) — but the broader correction is likely to continue after that. Hence "sell" after completion of wave B.
NSE:NIFTYShort
by ChartTheWave
7