Timeframe: Weekly
Market: NSE
Method: Elliott Wave + Fibonacci Projection
Updater Services appears to be completing a higher-degree corrective Wave (B) after a full ABC advance into 438.
The entire decline from the top has been overlapping, channelized, and time-consuming, confirming a corrective structure rather than an impulse.
Wave Structure Overview
Wave (A): Corrective rise into ~438
Wave (B): a–b–c decline, now near the lower boundary of the long-term falling channel
Wave (C): Expected counter-trend rally once Wave (B) exhaustion confirms
🎯 Wave (C) Target Zones (Projected Using Wave A)
Targets are derived using Trend-Based Fibonacci Extension
(Start of A → End of A → End of B)
0.382 Fib: ~225–230 → First reaction / partial booking
0.618 Fib: ~270–280 → Normal Wave (C)
1.0 Fib: ~330–360 → Only if price turns impulsive
⚠️ This is a corrective Wave (C), not a trend reversal unless momentum and structure confirm.
🛑 Invalidation
A sustained weekly close below the Wave (B) low (~145–150) invalidates the Wave (C) thesis.
Market: NSE
Method: Elliott Wave + Fibonacci Projection
Updater Services appears to be completing a higher-degree corrective Wave (B) after a full ABC advance into 438.
The entire decline from the top has been overlapping, channelized, and time-consuming, confirming a corrective structure rather than an impulse.
Wave Structure Overview
Wave (A): Corrective rise into ~438
Wave (B): a–b–c decline, now near the lower boundary of the long-term falling channel
Wave (C): Expected counter-trend rally once Wave (B) exhaustion confirms
🎯 Wave (C) Target Zones (Projected Using Wave A)
Targets are derived using Trend-Based Fibonacci Extension
(Start of A → End of A → End of B)
0.382 Fib: ~225–230 → First reaction / partial booking
0.618 Fib: ~270–280 → Normal Wave (C)
1.0 Fib: ~330–360 → Only if price turns impulsive
⚠️ This is a corrective Wave (C), not a trend reversal unless momentum and structure confirm.
🛑 Invalidation
A sustained weekly close below the Wave (B) low (~145–150) invalidates the Wave (C) thesis.
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.