Chart Insight
Price action has been coiling within a clean contracting triangle, with the recent rebound from ₹708.10 likely marking the E-wave low. The broader structure fits neatly as a possible Wave (4) consolidation within the larger uptrend.
Momentum View
RSI has turned higher from the oversold region, mirroring price stability near the triangle base — an early hint that momentum is rebuilding.
Trade View
As long as ₹708.10 holds, a bullish bounce toward ₹811.95 and possibly ₹894.9 remains favored.
A break below ₹708.10, however, would invalidate this setup and point to a deeper correction.
Bias: Bullish — possible Wave (5) breakout from triangle consolidation
Risk Level: Moderate (tight invalidation)
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
Price action has been coiling within a clean contracting triangle, with the recent rebound from ₹708.10 likely marking the E-wave low. The broader structure fits neatly as a possible Wave (4) consolidation within the larger uptrend.
Momentum View
RSI has turned higher from the oversold region, mirroring price stability near the triangle base — an early hint that momentum is rebuilding.
Trade View
As long as ₹708.10 holds, a bullish bounce toward ₹811.95 and possibly ₹894.9 remains favored.
A break below ₹708.10, however, would invalidate this setup and point to a deeper correction.
Bias: Bullish — possible Wave (5) breakout from triangle consolidation
Risk Level: Moderate (tight invalidation)
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.