After completing a strong impulsive advance, Aeroflex appears to be undergoing a Wave (iv) correction. Price is now approaching a confluence support zone between ₹124–126, which also aligns closely with the 38.2% Fibonacci retracement of the prior impulse.
As per Elliott Wave guidelines, Wave (iv) often retraces 23.6%–38.2% of Wave (iii), making this area an important zone to watch for signs of demand returning.
Key Levels:
- Support Zone: ₹124–126
- Point of Ruin: ₹114.80 (Wave 1 top)
- Bullish View: Valid as long as price holds above the point of ruin.
- If support holds, the next impulsive leg could be Wave (v) toward fresh highs.
Trading Plan:
Wait for bullish price action or reversal confirmation within the support zone.
Avoid anticipating the reversal without confirmation.
A decisive break below ₹114.80 would invalidate the current bullish wave count.
**This is purely an educational Elliott Wave analysis, not investment advice. Always and always manage risk and wait for confirmation before entering a trade.**
As per Elliott Wave guidelines, Wave (iv) often retraces 23.6%–38.2% of Wave (iii), making this area an important zone to watch for signs of demand returning.
Key Levels:
- Support Zone: ₹124–126
- Point of Ruin: ₹114.80 (Wave 1 top)
- Bullish View: Valid as long as price holds above the point of ruin.
- If support holds, the next impulsive leg could be Wave (v) toward fresh highs.
Trading Plan:
Wait for bullish price action or reversal confirmation within the support zone.
Avoid anticipating the reversal without confirmation.
A decisive break below ₹114.80 would invalidate the current bullish wave count.
**This is purely an educational Elliott Wave analysis, not investment advice. Always and always manage risk and wait for confirmation before entering a trade.**
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.