HINDALCO Gearing Up for Wave 5? Entry Zone Locked In for Swing!
📊 HINDALCO – Elliott Wave Analysis (1H Timeframe)
Textbook 5-wave impulse in play – Wave 4 nearing completion
Structurally clean setup with ideal R:R and defined invalidation. High probability long opportunity forming.
🧩 Wave Structure:
Wave 1 to 3 completed; Wave 3 peaked with momentum
Current correction forming a classic ABC zig-zag in Wave 4
Subwaves 'a' and 'b' completed; 'c' approaching ideal completion zone
🔎 Technical Confluence Zone:
Wave 4 Fib Retracement: 38.2–61.8% of Wave 3 → ₹680–663
Support Structure: Aligns with Wave C zone = ₹680–683
Price action showing slowdown → low volatility candles + buyer absorption
Entry zone aligns with high-probability reversal structure
🎯 Upside Targets (Wave 5 Projection):
First Swing Zone: ₹739–754
Second Swing Zone: ₹791–813
🛑 Stop-Loss Zones:
Intraday SL: Hourly close below ₹679.20
Positional SL: Day close below ₹661.75
📈 Reward Potential:
R:R ratio: 6.2+
Structure offers clear risk management and ideal swing setup
A must-watch for swing traders and Elliott Wave learners. Let price react at ₹680–683 zone for confirmation before entry.
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