GULSHAN POLYOLS LIMITED (NSE) — WEEKLY ELLIOTT WAVE OUTLOOKMarket Structure
NSE:GULPOLY appears to have completed a complex corrective Wave (2), ending with a textbook 5-wave decline inside a falling channel. Price has now broken above the channel resistance, suggesting that the correction may be complete and the next impulsive cycle could be underway.
Elliott Wave Count
Primary Wave (1) completed near ₹354.15.
Complex ABC corrective Wave (2) unfolded over several years.
Final leg ((c)) completed as a clear 5-wave impulse.
Recent breakout above the descending channel increases the probability that Primary Wave (3) has begun.
Technical Observations
Breakout from long-term falling channel
Higher low formation after Wave (5) bottom
Increasing buying interest near support
Weekly trend attempting to reverse after prolonged correction
Key Levels
Current Price: ₹197.74 as on 27/07/2026
Immediate Resistance: ₹220–225
Major Resistance: ₹260
Long-term Confirmation: Above ₹260
Invalidation: Sustained close below ₹ 140-150
Bullish Scenario
If the breakout sustains, Wave (3) typically becomes the strongest Elliott Wave and can extend significantly beyond Wave (1). A move above ₹220 would strengthen the bullish outlook, while a decisive break above ₹260 would confirm higher-degree trend continuation.
Trading Plan
Aggressive Entry: On current breakout with proper risk management.
Conservative Entry: Wait for a successful retest of the breakout zone.
Risk Management: Keep stop-loss below the recent swing low or below the channel breakout level according to your trading strategy.
Conclusion
The long corrective phase appears to be ending, and Gulshan Polyols may be entering a fresh impulsive uptrend. The channel breakout, completed Elliott Wave structure, and improving price action all favor a bullish outlook, though confirmation above key resistance levels is still required.
Disclaimer
This analysis is for educational and informational purposes only and reflects my personal interpretation of Elliott Wave Theory and technical analysis. Financial markets are inherently uncertain, and wave counts are subject to change as new price action develops.
This publication is not financial, investment, or trading advice, nor is it a recommendation to buy or sell any security. Always conduct your own research, consider your financial situation and risk tolerance, and consult a qualified financial advisor before making any investment decisions.
