The chart is showing a clear Elliott Wave structure. After completing a 5-wave bullish move, the price looks to be entering a corrective phase.
Current move suggests we are in Wave 4 correction, with Wave 5 downside still pending.
Key support levels: 7.91 / 7.64 / 7.44
Resistance zone: 8.30–8.37 (if broken, the bearish count may get invalidated).
This setup indicates further downside is possible if resistance holds, aligning with Elliott Wave theory.
⚠️ Disclaimer: I am not SEBI registered. This analysis is shared for educational purposes only. Please consult your financial advisor before making any investment decisions.
Current move suggests we are in Wave 4 correction, with Wave 5 downside still pending.
Key support levels: 7.91 / 7.64 / 7.44
Resistance zone: 8.30–8.37 (if broken, the bearish count may get invalidated).
This setup indicates further downside is possible if resistance holds, aligning with Elliott Wave theory.
⚠️ Disclaimer: I am not SEBI registered. This analysis is shared for educational purposes only. Please consult your financial advisor before making any investment decisions.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.