ETERNAl CMP: 246.30
⚠️ Eternal Structure Weakening – Exit on Pullbacks
As per the updated weekly chart of Eternal Limited, the Elliott Wave structure suggests Wave (V) has likely completed near the 360–370 zone, and a corrective A–B–C phase appears to be unfolding.
📉 What the Chart Indicates:
🔎 Key Levels to Watch:
1️⃣ Immediate Support Zone:
📍 205–220 (near 200 DMA region)
This is the first demand zone.
2️⃣ Major Risk Zone if Breakdown Continues:
📍 157–180 (Potential Wave A completion zone)
If 205–220 fails decisively, the probability increases for a deeper corrective move toward 157–180.
📤 For Those Holding the Stock:
Any pullback toward the falling resistance line / broken trendline should be used as an exit opportunity. If price fails to reclaim and sustain above the broken upward resistance line, the corrective structure remains intact.Avoid fresh buying until a clear base or reversal confirmation forms.
🧠 Strategy View:
This is no longer a momentum structure. It has shifted into a corrective phase. Capital protection becomes priority here.
Better to- Reduce exposure on bounces; Avoid averaging in a falling structure; Wait for structural confirmation before re-entry. Sometimes preservation of capital creates the best next opportunity.
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⚠️ Eternal Structure Weakening – Exit on Pullbacks
As per the updated weekly chart of Eternal Limited, the Elliott Wave structure suggests Wave (V) has likely completed near the 360–370 zone, and a corrective A–B–C phase appears to be unfolding.
📉 What the Chart Indicates:
- Clear rejection from the Wave (5) top.
- Breakdown below the upward momentum trendline.
- Price now trading below short-term moving averages.
- Formation of lower highs and lower lows on weekly structure.
- The rising support line has turned into resistance.
🔎 Key Levels to Watch:
1️⃣ Immediate Support Zone:
📍 205–220 (near 200 DMA region)
This is the first demand zone.
2️⃣ Major Risk Zone if Breakdown Continues:
📍 157–180 (Potential Wave A completion zone)
If 205–220 fails decisively, the probability increases for a deeper corrective move toward 157–180.
📤 For Those Holding the Stock:
Any pullback toward the falling resistance line / broken trendline should be used as an exit opportunity. If price fails to reclaim and sustain above the broken upward resistance line, the corrective structure remains intact.Avoid fresh buying until a clear base or reversal confirmation forms.
🧠 Strategy View:
This is no longer a momentum structure. It has shifted into a corrective phase. Capital protection becomes priority here.
Better to- Reduce exposure on bounces; Avoid averaging in a falling structure; Wait for structural confirmation before re-entry. Sometimes preservation of capital creates the best next opportunity.
📌 Thanks a ton for checking out my idea! Hope it sparked some value for you.
🙏 Follow for more insights
👍 Boost if you found it helpful
✍️ Drop a comment with your thoughts below!
Note
Eternal has entered into, Its immediate support zone (205-220 levels). And on daily chart has shown good signs of accumulation. New Investor can add up some position here.Trade fermée manuellement
The stock attempted a pullback toward the falling resistance / broken trendline, exactly where caution was advised earlier. This reinforces the importance of respecting trendline breakdowns and waiting for confirmation before deploying fresh capital.
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.