TTML: Unlocking Potential with Elliott WavesHello friends, Welcome to RK Chaarts.!
Let’s analyse the chart of Tata Teleservices Maharashtra Limited from an Elliott wave perspective.
We can see that in March 2023, the stock formed a bottom around 49.65 and then moved upwards in an impulse wave. We can identify wave one as complete, ending around the July 2024 high.
After that, there was a sudden fall to the April 2025 low, which we assume to be the end of wave two. We expected it to reverse around the previous low, because wave II cannot retrace more than 100% of wave I (Elliott wave principles), and Same happened, it had reversed from that low to upside.
Looking at the weekly chart, we can see that post wave II, price has broken the 0-B trend line with strong volume intensity. If our wave counts are correct, we can measure wave I and project wave III’s target using Trend based Fib extensions as per Elliott wave theory.
According to the theory, wave III target could be around 150.70, which is 1.618 times the length of wave I.
Projected Targets as per Elliott waves:
So, friends, from an Elliott wave perspective, Tata Teleservices has strong potential to move upwards to around 150 rupees, with potential targets at 88, 112, 127, and 150 rupees.
Invalidation levels:
Please note that this analysis is for educational purposes only and involves multiple possibilities. The scenario presented focuses on one potential outcome, assuming the invalidation level of 49.65 is not triggered. If it is triggered, the chart would need to be reassessed, and wave counts would need to be reevaluated.
This is not a tip or advisory, but rather a educational analysis.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Chaarts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Chaarts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
