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Elliott Wave

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
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
AXIS BANK | Swing Long Setup 📌 AXIS BANK – Wave 2 Completion & Potential Bullish Wave 3 Ahead 🚀 Axis Bank appears to have completed its corrective Wave 2 and may now be gearing up for the next impulsive rally — Wave 3, which is often the strongest in Elliott Wave theory. --- 🧩 Elliott Wave Structure Wave 1: Strong rally from the lows earlier in 2025, showing clear bullish intent. Wave 2: Completed as a complex W–X–Y correction , ending around the 50% Fibonacci retracement zone (₹1,079), which is a common reversal area in Elliott Wave patterns. The substructure inside Wave 2 (marked as a–b–c, w–x–y) shows corrective nature, indicating that the broader uptrend remains intact. --- 📈 Current Outlook & Key Levels Current Price**: ₹1,073 (hovering near 50% retracement level). Support Zones: ₹1,051 (38.2% Fib) – minor support. ₹1,005 (23.6% Fib) – strong support and Wave 2 invalidation watch. Immediate Resistance: ₹1,128 (61.8% Fib). Breakout Trigger : A sustained close above ₹1,182 will confirm strength and open the path for higher targets. --- 🎯 Upside Targets (Based on Fib Extensions of Wave 1) Target 1: ₹1,238 (100% projection). Target 2: ₹1,321 (127.2% extension) – strong Wave 3 projection zone. --- 🔍 Indicators & Market Context ✅ Price has respected the 50% Fibonacci retracement, showing early signs of buyers stepping in. ✅ Moving averages are starting to flatten, and a bullish crossover could be on the way once price pushes above ₹1,128. ✅ Volume remains moderate; a spike in buying volume on breakout would add confidence to the bullish scenario. --- ⚠️ Risk Management > If price drops below ₹1,005 (Wave 2 low), the bullish Elliott count would be invalidated, and deeper correction may follow. In such a case, it's better to step aside and wait for a fresh setup. --- 📝 Summary > Axis Bank seems to have finished its Wave 2 correction and is preparing for a possible Wave 3 rally. A breakout above ₹1,182 could start the next bullish leg towards ₹1,238 and ₹1,321. Until then, watch the key supports at ₹1,051 and ₹1,005. --- **Disclaimer:** This analysis is for educational purposes only and is not financial advice. Please consult a SEBI-registered financial advisor before making any investment decisions. #AxisBank #ElliottWave #SwingTrading #Wave3 #PriceAction #TradingViewIndia #TechnicalAnalysis ---
NSE:AXISBANKLong
by IMStockwala
Chalet Hotels - Exit Chalet Hotels, part of the Nifty Smallcap 250 and a favourite stock in the hotel/tourism sector, appears to have completed Wave V of a larger degree on 30 Dec 2024. Wave structure insights: Wave (i) and Wave (iii) were equal in length (1:1), i.e. equality Wave (v) extended to 1.618× the length of Wave (iii). Within Wave (v), sub-waves i and iii were equal; sub-wave v ending near sub-wave iii’s price level. The stock has been unfolding a flat corrective structure: Wave (a) ended on 17 Feb 2025 Wave (b) ended on 28 Jul 2025 — both of similar length If a regular flat corrective structure has to form, then Wave (c) is now in progress and should form a 5-wave downward move. Minimum downside target: ₹664 (slightly beyond 1× of Wave (a) projected to Wave (c)) assuming regular flat. Given this setup, price can remain sideways before turning lower. Action: Exit long positions and wait for the corrective phase to complete before re-entering.
NSE:CHALETShort
by ChartTheWave
Torrent Pharma to touch 3100 again ?Torrent Pharma is in corrective phase for a while. This correction is not going to end anytime soon, however we still have opportunity to make some money here. Currently on the Daily chart its in complex correction in which we have already completed Wave W, what's left is Wave X and Wave Y. Once we are good with the completion of wave X then expect it to unfold in a-b-c which will be part of wave Y. Disclaimer: I am not SEBI registered member, this is only for educational purpose only.
NSE:TORNTPHARM
by Swiftstrike
INTU next target around 850 once correction is overINTU has been correcting after finishing an Impulse sub wave. It will end the correction in the Price band of 745-715. Why such a big Price band to end the correction ? Because it has to correct till 4th wave of earlier sub wave and or resolve technical divergence with the price and RSI so the large band. How can we trade then for a target of 850 ? Wait for the price to enter the correction band of 745-715, the price may for the pattern as indicated by Yellow 1-2-3-4-5 wave pointing downwards., Wait for good candle stick formation in this band, like morning star pattern, pin bar+bullish candle or piercing candle pattern, now combine this with minimum back to back two positive divergences in RSI with price, entry should be with all condition met so that you are in high probability party., or any of the entry principles one has already developed and practicing., How to know if the current rise is impulsive or part of bigger B after entry is made with conditions met? Once entered, if you can inspect in lower time frame to see if its impulsive(Elliott Wave impulsive pattern), then it is confirmed that price is impulsive towards the target, else one can exit with some profits., and again wait for the price to enter the band and enter with above said conditions., How much time it will take for correction to get over and target to reach ? Time calculation is not part of this view , so the whole thing may take few weeks to couple of months to play out! PS: This view is fundamental agnostic and it is price action view with Elliott Wave theory applied., I will make best efforts to call out if the rise is impulsive or not.,
NASDAQ:INTU
by jsgadgil