HILTON : Reversal confirmed?
## 📘 \ HILTON METAL FORGING – Potential Reversal Setup Based on Elliott Wave Completion\
\ Timeframe:\ Daily
\ Structure:\ Completed 5-Wave Impulse (Bearish) → Recovery in Progress
\ Type:\ Swing Trade Setup | Wave Theory Based
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### 🔍 \ 1. Context and Background:\
HILTON has completed a \ five-wave impulsive decline\ from highs of \~₹190 to a bottom near ₹50, signaling the end of a strong downtrend.
According to \ Elliott Wave Principles\ , after a completed 5-wave impulse, a corrective \ ABC structure\ (retracement) generally follows.
Current chart indicates that \ Wave 5 is complete\ and recovery is underway in the form of Wave A → B → C.
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### 🔢 \ 2. Wave Count Overview:\
* \ Wave 1:\ Initial sharp decline
* \ Wave 2:\ Pullback to previous support
* \ Wave 3:\ Extended and steep fall
* \ Wave 4:\ Retracement to 50%-61.8% Fib zone (₹119.99–₹130.94)
* \ Wave 5:\ Final sell-off completing around ₹50–52 zone with capitulation
\ Note:\ Volume on Wave 5 bottom shows signs of exhaustion and early accumulation.
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### 🧩 \ 3. Current Structure – Recovery Begins:\
* The chart marks the \ first rally without volume\ (Wave A)
* Followed by a correction forming \ Wave B (intermediate zone: ₹58–67)\
* Now tracking potential for Wave C upside, targeting key retracement zones
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### 🎯 \ 4. Trade Levels and Projections:\
* \ Entry Zone:\ ₹58–67 (Wave B demand zone)
* \ First Target:\ ₹56–62 (gap-fill and prior resistance – conservative swing)
* \ Second Target:\ ₹132–142 (Extended retracement of Wave 4) – for positional traders
* \ Stop Loss:\ Below ₹56 (especially if the recovery wave fails or structure breaks)
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### 🔍 \ 5. Technical Confluences:\
* \ Wave 4 retracement zone:\ ₹119.99–130.94 = 50–61.8% of Wave 3
* \ Extended retracement target:\ ₹132–142 (potential C-wave projection)
* \ Volume Analysis:\ Low volume rally followed by corrective dip shows early signs of base building
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### ✅ \ 6. Strategic Notes:\
* \ This setup is ideal for swing or short-term positional traders\ aiming for 1:2+ RR
* Structure aligns with post-impulsive recovery behavior as per Elliott Wave
* \ Low-risk accumulation\ possible near ₹58–62 with defined SL
* Best trades come from structure + sentiment shift – both are visible here
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### 📌 \ Conclusion:\
HILTON METAL appears to have \ completed its 5-wave downtrend\ and is entering a corrective phase.
The current \ Wave B zone (₹58–67)\ offers a good risk-managed opportunity to participate in the \ Wave C upside\ toward ₹132–142.
Traders must monitor price action and volume closely around the current level and protect downside with a stop below ₹56.
