JSW Energy – Elliott Wave + Breakout Setup ⚡CMP: ₹542
JSW Energy is shaping up for a bullish Elliott Wave structure, supported by the price action on both the Daily, Weekly and Monthly charts.
📈 Elliott Wave View :The larger structure appears to have completed Wave (2) around the ₹179-181 zone & rise toward ₹800+ is indicative of Wave (3), followed by the current corrective/consolidation phase. The present falling-wedge formation can potentially represent the completion of Wave (4).
A breakout from the wedge, particularly above ₹570–580, could signal the beginning of Wave (5).
If this count plays out, the next impulsive leg can target can be
🎯 Targets
T1: ₹640–650
T2: ₹700–710
T3: ₹800–805
🛡️ Risk Management
Key support: ₹528–520 & Stop loss of ₹ 500
A decisive break below this zone would weaken the current bullish wave interpretation.
JSW Energy is shaping up for a bullish Elliott Wave structure, supported by the price action on both the Daily, Weekly and Monthly charts.
📈 Elliott Wave View :The larger structure appears to have completed Wave (2) around the ₹179-181 zone & rise toward ₹800+ is indicative of Wave (3), followed by the current corrective/consolidation phase. The present falling-wedge formation can potentially represent the completion of Wave (4).
A breakout from the wedge, particularly above ₹570–580, could signal the beginning of Wave (5).
If this count plays out, the next impulsive leg can target can be
🎯 Targets
T1: ₹640–650
T2: ₹700–710
T3: ₹800–805
🛡️ Risk Management
Key support: ₹528–520 & Stop loss of ₹ 500
A decisive break below this zone would weaken the current bullish wave interpretation.
Trade closed: stop reached
Join The Crocodile Strategy for timely market updates, swing trade setups, technical analysis & quick market insights.
whatsapp.com/channel/0029Vb6zQU1DDmFMeeYP7g0w
whatsapp.com/channel/0029Vb6zQU1DDmFMeeYP7g0w
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.
Join The Crocodile Strategy for timely market updates, swing trade setups, technical analysis & quick market insights.
whatsapp.com/channel/0029Vb6zQU1DDmFMeeYP7g0w
whatsapp.com/channel/0029Vb6zQU1DDmFMeeYP7g0w
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.