Elliott Waves: SCI Ltd Bullish Structure intactHello Friends, Welcome to RK_Chaarts,
Today we’re looking at the Shipping Corporation of India Ltd chart from an Elliott Wave perspective. The structure looks very clear.
Cycle degree Wave III ended at the July 2024 high, and Cycle degree Wave IV ended at the March 2025 bottom. After that, we started unfolding Cycle degree Wave V, which should have five subdivisions of Primary degree.
Out of those five, Wave ((1)) topped in June 2025. Then Wave ((2)) came as an expanded flat and bottomed in January 2026. So Wave ((2)) is done, and now Wave ((3)) is running.
Going one degree lower, inside this Primary Wave ((3)) we’ll also get five subdivisions of Intermediate degree. Here, Wave (1) and (2) are complete, and Wave (3) has already started, it even gave a trendline breakout.
If our counts are correct, this is a very bullish scenario and it could continue higher with strength.
Nearest Invalidation level for these wave counts is low of wave (2) Intermediate degree (Blue) which is 217.50.
Note: This post is purely from an Elliott Wave structure point of view. Many possibilities exist, and right now we’re focusing on one potential scenario that looks very clear to us. But this is the market - if any swing low breaks or something changes, we have to accept it and the wave counts can change.
For now, this is what we see from an Elliott Wave perspective. Let’s see how the market unfolds from here.
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Hope this post is helpful to community
Thanks
RK💕
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