TCS - Swing Trade Setup📌 TCS — Elliott Wave Outlook: Possible Wave 4 Bounce Before Wave 5 Decline
TCS is currently trading near a critical zone where the earlier ABC corrective structure has already been completed. Price action is now approaching a region where structural deviation may occur.
From an Elliott Wave perspective, if the price breaks above the ABC completion zone, it can indicate the development of an intermediate Wave 4. Such Wave-4 formations typically retrace a portion of Wave 3, often creating a temporary relief rally within the broader structure.
However, unless the trend fully reverses, this Wave 4 bounce can remain corrective in nature. After completing Wave 4, the chart suggests that TCS may resume its decline to form Wave 5, thereby completing the higher-degree Wave B or Wave 2 within the Primary Wave Structure.
Key Technical Notes:
ABC corrective structure appears completed.
Breaks above the completion zone increase the probability of a corrective Wave 4 rally.
Wave 5 may unfold afterward, potentially completing Primary Wave B/2.
Trend confirmation should be based on hourly closes and price behavior near key Fib retracement zones.
What to Watch:
Price reaction near the ABC completion zone
Whether a structured Wave 4 bounce forms or price rejects sharply
Hourly close levels for confirmation
Volume behavior on the bounce or breakdown
Educational Insight:
Wave 4 rallies are often misleading for new traders—they may appear as reversals but are usually corrective. Always assess whether structure supports continuation before assuming a trend shift.
Conclusion
TCS is at a structural turning point. A break above the ABC completion region may trigger a Wave 4 relief move, but unless higher-degree resistance breaks convincingly, the larger structure still supports a potential Wave 5 decline to complete the primary correction.
Disclaimer:
I am not a SEBI-registered analyst. This analysis is for educational purposes only. Always perform your own research or consult a financial advisor before making trading decisions.
