Inox Wind is currently trading at an important technical zone, sitting near the 200-week moving average. This area often acts as long-term support, but it is not a guarantee of a reversal.
From a structural perspective, the broader move looks corrective, unfolding as a (W)-(X)-(Y) pattern. The decline from wave (b) appears to be forming an (a)(b)(c) correction, moving inside a descending channel, which keeps the broader trend under pressure for now.
The 100% Fibonacci extension of wave (a) from (b) comes around 96.66, while the 100–104 zone acts as a major support pivot. This zone becomes crucial going forward.
Bullish scenario:
If price holds above the 100–104 zone, breaks the descending channel, and is supported by a clear volume expansion, it could signal that the corretion is nearing completion and a trend reversal attempt is underway.
Bearish scenario:
A weekly close below ~100, especially without any volume support, keeps the corrective structure active and opens the door for a deeper move toward the 40–60 support zone, where the next meaningful demand area exists.
At this stage, volume remains the key missing confirmation. Without a volume breakout, any bounce should be treated as corrective, not impulsive.
Overall, Inox Wind is at a decision point, where the next few weeks of price action and volume behavior will likely define the next major trend.
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.
From a structural perspective, the broader move looks corrective, unfolding as a (W)-(X)-(Y) pattern. The decline from wave (b) appears to be forming an (a)(b)(c) correction, moving inside a descending channel, which keeps the broader trend under pressure for now.
The 100% Fibonacci extension of wave (a) from (b) comes around 96.66, while the 100–104 zone acts as a major support pivot. This zone becomes crucial going forward.
Bullish scenario:
If price holds above the 100–104 zone, breaks the descending channel, and is supported by a clear volume expansion, it could signal that the corretion is nearing completion and a trend reversal attempt is underway.
Bearish scenario:
A weekly close below ~100, especially without any volume support, keeps the corrective structure active and opens the door for a deeper move toward the 40–60 support zone, where the next meaningful demand area exists.
At this stage, volume remains the key missing confirmation. Without a volume breakout, any bounce should be treated as corrective, not impulsive.
Overall, Inox Wind is at a decision point, where the next few weeks of price action and volume behavior will likely define the next major trend.
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
Related publications
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.
WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Related publications
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.