Elliott Wave

Angel One: Buyers Defend Former Triangle Resistance Overview Angel One has recently completed a multi-month contracting triangle structure (a)-(b)-(c)-(d)-(e) along the lower boundary of its multi-year ascending channel. Here is a breakdown of the current technical structure and key levels to watch. 1. Wave Structure & Retracement Wave (i) Impulse: The breakout from the triangle pushed price sharply to 361.00 , driven by a massive expansion in trading volume. Wave (ii) Pullback: Price recently pulled back to touch the 0.5 Fibonacci retracement (274.15) , which sits right near the former triangle resistance zone ( 287.45 ). 2. What the Volume Shows The recent bounce off the 275.45 low saw a strong surge in weekly volume (61M+). This high volume on a green candle indicates buyer absorption at structural support rather than heavy institutional distribution. 3. Two Scenarios to Track Primary Bullish Case: Wave (ii) completed at 275.45. A sustained move above 320–325 confirms Wave (iii) momentum, targeting a retest of 361 and higher channel boundaries. Cautionary Case: The current move is a corrective bounce. Failure to reclaim 320–325 could lead to one final dip toward the 0.618 Fib (256.90) before the broader uptrend resumes. Key Levels Summary Immediate Support: 274 – 287 (0.5 Fib & Breakout Retest) Secondary Support: 256.90 (0.618 Fib) Breakout Confirmation: 320 – 325 Invalidation: Below 208.17 (Wave i origin) Macro Context As a major discount broker, Angel One's trading volume acts as a direct barometer for domestic retail market participation. Volume activity at key support suggests market confidence remains intact. Disclaimer This analysis is shared for educational and study purposes only and does not constitute financial or investment advice. I am NOT a SEBI-registered analyst or advisor. Please conduct your own research or consult a certified financial advisor before making any investment decisions.

Will Nifty 50 Hit 21839 – 19037 Again?Wave (4): Complex correction developing ================================ NSE:NIFTY has entered an important technical phase after reaching 26277 . Elliott Wave count suggests that the index may still be working through a complex Wave (4) correction. The larger picture shows Wave (3) completing near 26277, almost exactly at the 100% Fibonacci projection of Wave (1) near 26270. From that high, Nifty declined to 21743 , forming a clear five-wave structure. The index then recovered strongly and moved to 26373 , creating an important alternate possibility in the current count. Rather than forcing a single interpretation, I am keeping the structure open until price action provides confirmation. 🎯 The current decline from 26373 is now developing as a potential: 1 → 2 → 3 → 4 → 5 structure. If the decline develops into a complete five-wave move, it would strengthen the case that the larger correction is still unfolding. Target: 22039 Target: 21839 Target: 19038 The alternate possibility is that 26373 marked the completion of Wave (5) and the current decline is the beginning of a larger correction.

by forextidings

XAUUSD — Elliott Wave Recovery From 4,286 XAUUSD — Elliott Wave Recovery From 4,286 Gold is showing a strong Elliott Wave recovery after completing the previous bearish wave 5 near the 4,286–4,300 demand area. From Kelly’s view, the current chart suggests that XAUUSD has shifted into a short-term bullish correction structure, but price is now approaching an important Fibonacci sell zone where a pullback may appear first. The key idea is simple: gold may push higher to complete the current upside wave, then correct into the buy zone before continuing toward the next higher Fibonacci target. ⟡ Market Structure Gold reacted strongly from the done wave 5 area near 4,286–4,300, showing that buyers defended the lower liquidity zone. After that reaction, price built a bullish impulse and is now trading around 4,437. The current upside structure looks like a developing 5-wave recovery. Price may still have room to test the 4,475–4,490 area, marked as the Done wave 5 / Sell zone Fibonacci. This zone is important because buyers may take profit there, and a short ABC correction can appear. If price rejects from this Fibonacci zone, the next clean support to watch is the End wave C / Buy zone around 4,385–4,395. If this zone holds, gold may start another bullish leg toward the upper target near 4,520–4,530. ➤ Key Levels ◌ Current price area: 4,437 ◌ Done wave 5 / Sell zone Fibonacci: 4,475–4,490 ◌ Upper Fibonacci target: 4,520–4,530 ◌ End wave C / Buy zone: 4,385–4,395 ◌ Strong lower support: 4,286–4,300 ◌ Bullish invalidation: below 4,365 ⌁ Elliott Wave View The chart suggests that the previous bearish wave 5 may have already completed around 4,286–4,300. From that low, gold appears to be building a new bullish recovery: Wave (1) started from the lower demand zone. Wave (2) corrected back but held above the recent low. Wave (3) pushed price higher with stronger momentum. Wave (4) may create a short pullback. Wave (5) could finish near 4,475–4,490. After wave (5) completes, gold may form an ABC correction into 4,385–4,395 before buyers try to continue toward 4,520–4,530. ▸ Trading Scenario Preferred bullish scenario Entry: Buy around 4,385–4,395 if price gives bullish confirmation from the End wave C / Buy zone Stop Loss: Below 4,365 Take Profit 1: 4,475–4,490 Take Profit 2: 4,520–4,530 Alternative scenario If gold breaks above 4,490 and holds above this zone, the bullish structure may continue directly toward 4,520–4,530 without a deep correction. ◌ Invalidation The bullish recovery becomes weaker if gold breaks below 4,365 and fails to reclaim the buy zone. In that case, the ABC correction may extend lower, and the bullish continuation setup needs to be delayed. ⌁ Kelly’s View Kelly’s main view is bullish after the strong reaction from 4,286–4,300, but buying directly into the Fibonacci sell zone is not the cleanest plan. The better setup is to wait for price to complete the current wave near 4,475–4,490, then watch for an ABC pullback into 4,385–4,395. If buyers defend that zone, gold may continue toward 4,520–4,530. Do you think gold will complete wave (5) first, or correct into the buy zone before the next rally?

by Kelly_Koou_Gold

XAUUSD — Bearish Wave 5 Toward 4,286 Gold is still trading inside a bearish Elliott Wave structure after the strong selloff from the upper area. From Kelly’s view, the current chart suggests that XAUUSD may be forming a wave (4) correction under resistance before continuing lower into wave (5). The key idea is simple: gold is still below strong resistance, and if buyers fail to reclaim the upper zone, the next bearish target remains around 4,286. ⟡ Market Structure Gold is currently trading around 4,429, right near the upper side of the FVG support area. After the sharp drop, price has been moving sideways and building a small corrective structure. The important resistance zone is around 4,455–4,470. This area may act as the wave (4) rejection zone. If price cannot break above it, sellers may continue to control the short-term structure. Below the current price, the key support is near 4,397. If gold breaks below this level, the bearish wave (5) scenario becomes stronger, opening the way toward the lower liquidity area around 4,286–4,300. ➤ Key Levels ◌ Current price area: 4,429 ◌ Strong resistance / wave (4): 4,455–4,470 ◌ FVG support zone: 4,365–4,430 ◌ Key support: 4,397 ◌ Main bearish target: 4,286–4,300 ◌ Extended support zone: 4,270–4,310 ◌ Bullish invalidation: above 4,507 ⌁ Elliott Wave View The chart is showing a possible bearish 5-wave sequence. Wave (1) started after the first rejection from the top. Wave (2) created a recovery bounce but failed to make a stronger continuation. Wave (3) pushed sharply lower into the FVG support zone. Wave (4) is now forming as a sideways correction below resistance. If sellers reject this area again, wave (5) may continue lower toward 4,286–4,300. This is why Kelly is not chasing buys at the current level. The cleaner plan is to wait for rejection below resistance or a confirmed breakdown below 4,397. ▸ Trading Scenario Preferred bearish scenario Entry: Sell around 4,455–4,470 if price gives bearish rejection from strong resistance Stop Loss: Above 4,507 Take Profit 1: 4,397 Take Profit 2: 4,340–4,320 Take Profit 3: 4,286–4,300 Alternative entry If gold breaks below 4,397 with strong bearish momentum, sellers may look for continuation toward 4,286 without waiting for a deeper pullback. ◌ Invalidation The bearish view becomes weaker if gold breaks above 4,507 and holds above that level. In that case, the wave (4) correction may extend higher and the wave (5) downside setup would need to be delayed. ⌁ Kelly’s View Kelly’s main view remains bearish while gold stays below the strong resistance zone. The current movement still looks more like a correction than a real bullish reversal. If price rejects 4,455–4,470 or breaks below 4,397, gold may continue the wave (5) move toward 4,286–4,300. Do you think gold will complete wave (5) first, or will buyers try to defend the FVG support again?

by Kelly_Koou_Gold

BSE - potential Wave 4 completion - Buy BSE At a larger degree, the stock is presently in its Wave 3 of Primary degree. In the said wave, stock completed minor degree Wave 3 of Wave (5) of Intermediary degree on 27 May 2026 and has been undergoing correction. The correction is in the form of a zigzag which is a 5-3-5 sequence numbered as ABC. Wave A got completed on 8 June 2026, Wave B completed on 17 June 2026. It appears Wave 5 of Wave C got completed at 50% of Wave (i)-Wave (iii) on 20 July 2026. The stock has in the process achieved a retracement of more than 38.2%. One may consider buying the stock with a stop loss of 3530 which is very low risk trade.

by ChartTheWave

Nifty Next Target 25000 ?Disclaimer : This view is only for educational purpose and it's not buying or selling recommendation. Consult your financial advisor for stock market related investment. Stock market gains are subject to market risk's, hence invest with accepting stock market risk's. I am not responsible for your profits and losses. 1] Nifty has completed Wave-A and Wave-B of upside Corrective Wave 2] Now Nifty will head for Corrective upside wave for target of 25000 3] Use this opportunity for Swing trading 4] Follow Stop-Loss very Strictly. 5] Comments if you have any alternate view

NIFTY can fall till 23600 levels again Disclaimer : This view is only for educational purpose and it's not buying or selling recommendation. Consult your financial advisor for stock market related investment. Stock market gains are subject to market risk's, hence invest with accepting stock market risk's. I am not responsible for your profits and losses. 1] Nifty has completed Impulse 1-2-3-4-5 and now it's running in corrective wave. 2] It has completed Wave-A and Wave-B of expanded flat wave pattern and it should start downside journey for wave-C. 3] Follow stop very strictly.

JAMNAAUTO Jamna Auto Industries Ltd. (NSE: JAMNAAUTO) displays a distinct macro impulse cycle on a 3-month (quarterly) candlestick chart, supported by strong balance sheet fundamentals as India's premier commercial vehicle (CV) suspension manufacturer. 1. Quarterly (3-Month Per Candle) Technical Structure On the 3-month candlestick timeframe, each candle aggregates 90 days of price action, smoothing out short-term noise to highlight long-term institutional accumulation and structural trends. * Macro Chart Configuration: Long-term base formation rising from single-digit lows, expanding into a secular uptrend with higher highs and higher lows. * Key Support Zone (3M): ₹88.00 – ₹95.00 (confluence of historical demand zone and multi-year trendline support). * Immediate Resistance Zone (3M): ₹145.00 – ₹152.50 (all-time high zone and multi-quarter supply cluster). * Current Candle State: Price is consolidating near ₹120–₹122, displaying low volatility contraction within a broad quarterly range. 2. Elliott Wave Analysis (3-Month Supercycle Degree) Under Elliott Wave Theory, price trends unfold in 5 motive waves (1-2-3-4-5) followed by a 3-wave correction (A-B-C). On the quarterly timeframe, Jamna Auto exhibits a classic 5-wave structural progression: * Wave 1 (Initial Cycle): Historical structural rally that completed around the previous cyclical peak (~₹100–110 level). * Wave 2 (Macro Corrective Retracement): Deep multi-quarter drop reaching the 2020 low near ~₹23–₹25. This wave retraced roughly 78.6% of Wave 1 without breaching Wave 1 origin, fulfilling the non-negotiable Elliott Wave rule. * Wave 3 (Extended Impulse Leg): The strongest, volume-backed wave driving from ~₹25 to an all-time high of ~₹152.50. Wave 3 represents over 500% gains, making it the dominant impulse leg. * Wave 4 (Current Quarterly Consolidation): The stock is currently completing Wave 4. * Alternation Rule: Since Wave 2 was sharp and deep, Wave 4 is unfolding as a sideways, time-wise complex correction in the range of ₹90–₹125. * Overlap Rule: Wave 4 low (~₹89.80) holds comfortably above the Wave 1 origin/breakout levels, preserving wave validity. * Wave 5 (Projected Impulse): A decisive quarterly close above the ₹145–₹152 resistance zone confirms the onset of Wave 5. Fibonacci expansion target for Wave 5: 3. Fundamental Analysis Jamna Auto Industries is India's largest manufacturer of tapered leaf springs and parabolic springs for commercial vehicles, holding over 60% market share in the domestic OEM segment. | Metric | Current Value | Evaluation & Remarks | | Market Capitalization | ~₹4,850 Cr | Small-Cap OEM supplier | | Stock P/E Ratio (TTM) | ~20.5x | Reasonable valuation compared to auto-ancillary peers | | Return on Capital Employed (ROCE) | ~28.0% | Strong operational efficiency and capital deployment | | Return on Equity (ROE) | ~20.3% | High profitability relative to net worth | | Debt to Equity Ratio | 0.01 (Virtually Debt-Free) | Clean balance sheet with minimal interest expense | | Promoter Holding | 49.84% | Stable insider ownership with unpledged equity | | Dividend Yield | ~1.74% – 2.06% | Consistent payout history | Key Business Drivers & Risks * Strengths: Debt-free balance sheet, dominant market position in leaf/parabolic springs, expanding aftermarket revenue share, and strong ROCE (28%). * Risks: Cyclical dependency on the Commercial Vehicle (CV) industry volume, raw material cost fluctuations (steel), and client concentration risk with key OEMs like Tata Motors and Ashok Leyland. Technical & Fundamental Confluence The fundamental health (debt-free, 28% ROCE) aligns directly with the long-term technical structure. Wave 4 corrections on 3-month charts typically mark long-term accumulation zones for fundamentally sound companies before the final Wave 5 breakout.

by Market_secrets

Apollo Hospitals: Consolidation and Strategic Entry Levels Overview Apollo Hospitals is moving inside a clean upward channel on the daily chart. The larger structural trend remains positive, well supported by the overall strength in the Nifty Pharma sector. The Wave Structure Wave (i) & (ii): Wave (i) topped at ₹7,870.5, and Wave (ii) found solid support at ₹7,080.0. Wave (iii): Price hit a high of ₹9,050.0, perfectly matching the 1.618 Fibonacci extension zone. Wave (iv): Currently consolidating to build energy for the next leg up. How Wave (iv) Might Unfold Scenario A (Triangle Pattern): Price holds above the local trendline and the ₹8,507.5 support level, coiling sideways before breaking out. Scenario B (Channel Retest): Price tests lower toward the bottom blue line of the main upward channel before finding fresh buyers. Entry Strategy & Confirmation Entry Trigger: Buy only above ₹8,984.0 . Volume Filter: Wait for good buying volume on the breakout candle to avoid false moves. Upside Target: Wave (v) can push price toward the upper channel boundary around ₹9,400 – ₹9,600. Clear Invalidation Levels Pattern Weakness: A breach below ₹8,507.5 invalidates the immediate triangle setup and signals a deeper Wave (iv) retest. Hard Setup Invalidation: Any drop below ₹7,870.5 (the Wave i high) completely invalidates this Elliott Wave count. Disclaimer: This post is for educational purposes only and is not financial advice. I am not a SEBI-registered analyst. Please do your own research and manage your risk carefully.

NCDEX Guar Gum Futures: A New Impulsive Move Could Be Developing NCDEX:GUARGUM51! has formed an interesting Elliott Wave structure after completing a larger correction in March 2026. The advance from the March low appears to have developed into a new upward sequence. The decline into August appears to have completed Wave 2 , and the current recovery could represent the early stages of the next impulsive advance. Key Level to Watch A sustained move above 12869 level would strengthen the possibility that the current advance is developing as Wave 3. Potential Upside Objectives Target Price: 13494 Target Price: 14932 Target Price: 16046 A stronger and extended advance could eventually bring the 161.8% projection near 16,046 into focus.

by forextidings

XAUUSD — Wave 4 Rebound Before Wave 5 XAUUSD — Wave 4 Rebound Before Wave 5 Gold is showing a clear bearish Elliott Wave structure after the strong rejection from the upper area near 4,620–4,640. From Kelly’s view, the current chart suggests that XAUUSD may have already completed wave (3) into the 4,400–4,425 zone, and the market could now build a corrective wave (4) before continuing lower into wave (5). The key idea is simple: gold may rebound first, but as long as the recovery stays below the sell FVG zone, the larger short-term structure still favors another bearish leg. ⟡ Market Structure Price is currently trading around 4,421, right inside the Resistance Fibonacci wave 4 area. This zone is important because it may decide whether gold continues lower immediately or makes a temporary recovery first. The recent selloff was strong and impulsive, which supports the idea that sellers are still controlling the market. However, after such a sharp drop, a short correction toward the upper FVG area is possible before the next bearish continuation. The main sell reaction zone on the chart sits around 4,500–4,530, marked as the FVG Sell wave 5 area. If gold rebounds into this zone and fails to break higher, sellers may step in again for the next downside move. ➤ Key Levels ◌ Current price area: 4,421 ◌ Resistance Fibonacci wave 4: 4,400–4,425 ◌ FVG Sell wave 5 zone: 4,500–4,530 ◌ Key sell reaction level: 4,507 ◌ Main downside target: 4,280–4,300 ◌ End wave 5 level: around 4,286 ◌ Bullish invalidation: above 4,540 ⌁ Elliott Wave View The chart is showing a bearish 5-wave sequence. Wave (1) formed after the first rejection from the top. Wave (2) created a corrective rebound near 4,620–4,640. Wave (3) pushed strongly lower into the 4,400–4,425 Fibonacci zone. Wave (4) may now create a corrective rebound toward 4,500–4,530. If that zone rejects price, wave (5) may continue lower toward 4,280–4,300. This is why Kelly is not chasing sells at the current low. The cleaner setup is to wait for either a weak rebound into the sell FVG zone or a clear breakdown below the current support structure. ▸ Trading Scenario Preferred bearish scenario Entry: Sell around 4,500–4,530 if price gives bearish rejection from the FVG Sell wave 5 zone Stop Loss: Above 4,540 Take Profit 1: 4,400–4,425 Take Profit 2: 4,340–4,320 Take Profit 3: 4,280–4,300 Alternative entry If gold fails to recover and breaks below 4,400 with strong bearish momentum, sellers may look for continuation toward 4,286 without waiting for a deeper pullback. ◌ Invalidation The bearish view becomes weaker if gold breaks above 4,540 and holds above the FVG sell zone. In that case, the wave (4) correction may extend higher and the wave (5) downside scenario would need to be delayed. ⌁ Kelly’s View Kelly’s main view remains bearish, but not to sell blindly at the current price. Gold is sitting near an important Fibonacci reaction zone, so a short rebound can happen first. If price pulls back into 4,500–4,530 and rejects, the bearish wave 5 setup becomes cleaner, with the main target near 4,280–4,300. Do you think gold will retest the FVG sell zone first, or continue directly toward wave (5)?

by Kelly_Koou_Gold

Varun Beverages - Buy Varun Beverages Following a major wave completion during July 2024, the stock went in for a long correction in the form of WXY (one Flat – Wave W, and one Zigzag – Wave Y) which got completed on 23 Mar 2026. Following the completion of correction, the stock completed its first impulse wave on 17 June 2026 as given in the chart. The correction to the present impulse was in the form a smaller zigzag which is a 5-3-5 sequence. Wave A got completed on 29 June 2026, Wave B on 1 July 2026 and Wave C was in formation. It appears that Wave 5 of said Wave C got completed at 50% of the length of Wave 1-3 on 20 July 2026. One may consider buying the stock with a stop loss of 450 which is a lower risk, high reward set up.

by ChartTheWave

MCX Gold: Correction May Continue Toward 140077 MCX:GOLD1! appears to be forming a larger W-X-Y corrective structure on the daily chart. The first leg, Wave W, developed as an A-B-C correction, followed by an X-wave recovery. Within Wave Y: Wave A: 1,64,497 → 1,39,801 Wave B: 1,39,801 → 1,64,773 Wave C: currently developing The important point is that Wave B reached 1,64,773 , slightly above the start of Wave A at 1,64,497 . This makes the current Y-wave look more like a flat correction rather than a normal zigzag. In a regular flat, Wave B normally returns close to the beginning of Wave A, while Wave C generally moves slightly beyond the end of Wave A. For short-term traders: 149511 - 140077 is the first major downside zone. The 1,39,801 level is also important because it is the end of Wave A. A move below this level would provide additional confirmation that Wave C is extending lower. For positional traders: Deeper downside possibility - 124815 In short: MCX Gold is currently in a corrective phase, with Wave C of the preferred Y-wave structure potentially developing. The first important downside zone is 1,49,511 , while 1,40,077 is the main target. A stronger decline below 1,39,801 could expose Gold to the deeper 1,24,815 level. Key Economic Events This Week: Traders should keep an eye on the following major economic releases, particularly the US Crude Oil Inventories on Wednesday and the US Nonfarm Payrolls, Unemployment Rate and Average Hourly Earnings data on Friday, as these high-impact events may increase market volatility.

by forextidings

Anthem Biosciences – Is it time to book profits? IPO Case study - Anthem Biosciences Following a brief rally after listing, Anthem Biosciences underwent a correction lasting about 137 days, forming a Zigzag. Wave A was longer than Wave C, and the correction appears to have concluded on 2 February 2026. The stock subsequently began forming its first impulse wave. It now appears highly likely that the first impulse has been completed . Wave structure Wave I – A small 5-wave sequence. Wave II – A deep correction, retracing approximately 78.6% of Wave I. Wave III – An extended 5-wave sequence, reaching approximately 1.618 × Wave I. Wave IV – A relatively small Zigzag, retracing about 38.2% of Wave III. Wave V – Another extended wave, which appears to have terminated around 78.6% of the combined length of Waves I–III. The stock has delivered over 60% from its February lows, and the wave structure now suggests that the first impulse may have run its course. It may therefore be prudent to book partial profits at current levels and consider adding to the position after the corrective phase is complete.

by ChartTheWave

RBL Bank: New Bullish Wave Developing, ₹512 Target Seen Key Highlights Wave (1): The earlier major advance from the 2022 low to the January 2024 high. Wave (2): A corrective A-B-C pattern that ended at Wave C. Wave (3): The current upward phase, which is still developing. NSE:RBLBANK has maintained a strong upward trend after completing a larger corrective phase. Based on the current wave structure, the 1.618 Fibonacci projection is placed around ₹512.65 . This level can be considered a potential long-term objective if the current bullish wave continues to develop as expected. The main positive factor is that the stock has continued to make higher highs and higher lows after the March 2025 bottom. As long as the larger bullish structure remains intact, the current advance could continue toward higher levels. The long-term wave structure remains positive, with the stock appearing to be in a new impulsive advance. However, this count should be treated as a working Elliott Wave scenario , as wave labels can change if subsequent price action invalidates the structure.

by forextidings

XAUUSD — Bullish Wave 5 Setup From Buy FVG XAUUSD — Bullish Wave 5 Setup From Buy FVG Gold is starting to build a bullish recovery structure after defending the lower area near 4,570–4,580. From Kelly’s view, the current chart suggests that XAUUSD may be forming a new Elliott Wave upside sequence, with the latest pullback acting as wave (2) before price attempts to continue higher into wave (3), wave (4), and finally wave (5). The key idea is simple: if gold continues to hold above the Buy FVG zone, the bullish structure remains valid and the next upside target may open toward 4,655 first, then 4,705–4,712. ⟡ Market Structure Gold previously moved inside a descending correction channel, but the latest reaction from the lower zone shows that sellers are starting to lose pressure. Price is now trading around 4,603, right above the Buy FVG zone near 4,590–4,598. If buyers continue to defend this area, gold may complete wave (2) and start pushing into wave (3). The first breakout area to watch is the Buy zone wave 5 / reaction zone around 4,622–4,628. A clean break above this zone would confirm stronger bullish momentum. Above that, the next important target is the Fibonacci + FVG zone around 4,654–4,660, which also matches the projected wave (3) area. If price later pulls back and holds above structure, the final upside target remains the Target wave 5 zone near 4,705–4,712. ➤ Key Levels ◌ Current price area: 4,603 ◌ Buy FVG support: 4,590–4,598 ◌ Wave (2) invalidation area: below 4,570 ◌ Buy zone wave 5 / breakout zone: 4,622–4,628 ◌ Fibonacci + FVG target: 4,654–4,660 ◌ Main wave 5 target: 4,705–4,712 ⌁ Elliott Wave View The chart is showing a possible bullish 5-wave recovery structure. Wave (1) may have formed from the lower reaction zone toward 4,615–4,620. Wave (2) appears to have corrected back into the lower FVG area near 4,570–4,580. If this low holds, wave (3) can develop toward 4,654–4,660. After that, wave (4) may create a small pullback toward 4,622–4,628. The final wave (5) target remains near 4,705–4,712. This is why Kelly is not focusing on chasing sells at the current level. The cleaner plan is to wait for confirmation that buyers are defending the FVG and that price can break back above the short-term correction structure. ▸ Trading Scenario Preferred bullish scenario Entry: Buy around 4,590–4,598 if price gives bullish confirmation from the Buy FVG zone Stop Loss: Below 4,570 Take Profit 1: 4,622–4,628 Take Profit 2: 4,654–4,660 Take Profit 3: 4,705–4,712 Alternative entry: If gold breaks above 4,622–4,628 and retests this zone as support, buyers may look for continuation toward the Fibonacci + FVG zone. ◌ Invalidation The bullish view becomes weaker if gold breaks below 4,570 and fails to reclaim the Buy FVG zone. In that case, the wave (2) structure may fail and price could continue the correction lower before any new bullish setup appears. ⌁ Kelly’s View Kelly’s main view is bullish as long as gold holds above the lower FVG support. The market is still inside a recovery attempt, and the Elliott Wave structure suggests that a new upside sequence may be forming. If buyers defend 4,590–4,598 and price breaks above 4,622–4,628, gold may continue toward 4,654–4,660, then potentially complete wave (5) near 4,705–4,712. Do you think gold will confirm wave (3) from here, or will price retest the Buy FVG one more time first?

by Kelly_Koou_Gold

Nifty Elliott Wave Analysis | 31 Aug – 30 Sep, 2026 Wrap-up:- As discussed in my previous Mid-Term NIFTY Analysis (Weekly Chart published on 11 July 2026 ), the market continues to trade within Wave Y of Wave X of the larger Major Wave 4 corrective structure . Within Wave Y, Wave A concluded at 24,601, while Wave B is currently unfolding. Based on the latest price structure, Wave B appears to be developing as an ABC Irregular Correction. The internal structure is currently interpreted as follows: Internal Wave A of Wave B completed at 23,070. Internal Wave B is currently unfolding. Within this Internal Wave B : Internal Wave W concluded at 24,261. Internal Wave X concluded at 23,606. Internal Wave Y is currently unfolding. Within this Internal Wave Y : Internal Wave A concluded at 24,602. Internal Wave B is approaching completion and will be considered confirmed only after NIFTY registers a decisive breakout and sustains above 24,311 . Upon confirmation of Internal Wave B , the market is expected to transition into Internal Wave C , with a projected upside objective in the 25,500-26,500 Range . What I'm Watching | 31 Aug – 30 Sep 2026 The immediate focus remains on the completion and confirmation of Internal Wave B . If the current Elliott Wave count remains valid and NIFTY sustains above 24,311 , it would increase the probability of Internal Wave C commencing. Historically, Wave C often develops as the strongest and most directional leg within an ABC corrective sequence, making this an important phase to monitor. A sustained move above the identified resistance levels would further strengthen the bullish outlook. Key Levels to Watch Immediate Resistance: 24,311 Major Resistance: 24,772-25116 Range Bullish Projection: 25,500–26,500 (subject to wave confirmation) Trend Bias: Bullish , unless the current Elliott Wave structure is invalidated. Professional View: The broader Elliott Wave structure continues to favour a bullish outlook, provided the current wave count remains valid. While short-term volatility may persist during the completion of Internal Wave B , a decisive breakout above 24,311 would significantly improve the probability of an impulsive advance toward the 25,500–26,500 region. As always, confirmation through price action should take precedence over anticipation. Traders should monitor key validation levels, remain flexible if the wave structure changes, and apply disciplined risk management. Disclaimer: This analysis reflects my personal interpretation of the market using Elliott Wave Theory and is shared strictly for educational purposes only. It should not be considered financial or investment advice. "Don't predict the market. Decode it."

by ChartMasteryHQ

XAUUSD — Bearish Structure Below 4,600 XAUUSD — Bearish Structure Below 4,600 Gold is starting to lose upside momentum after rejecting from the upper side of the rising channel. From this chart, the latest rebound still looks corrective, which keeps the short-term bias tilted to the downside and supports the idea of one more bearish leg. ⟡ Market structure Price previously advanced inside an ascending channel, but after peaking near the upper boundary, momentum faded and the market began to print a weaker lower-high sequence. The Elliott Wave structure on the chart suggests wave (3) has already pushed down, wave (4) is forming as a recovery bounce, and wave (5) may still develop lower if sellers stay in control. The first important reaction area is around 4,579–4,585, which is acting as a key decision zone. Below that, the next liquidity level sits near 4,564.602. If this level breaks cleanly, gold could continue toward the 4,520–4,525 area, where the chart marks the projected Elliott wave 5 completion and Fibonacci 1.618 target. ➤ Key levels ◌ Current price area: 4,598 ◌ Reaction / decision zone: 4,579–4,585 ◌ Liquidity support: 4,564.602 ◌ Main bearish target: 4,520–4,525 ◌ Extension target if selling accelerates: around 4,433 ◌ Invalidation resistance: 4,630–4,640 ⌁ Trading scenario Entry: Sell on bearish rejection around 4,598–4,605, or after price drops back below 4,585 and retests it weakly. Stop Loss: Above 4,640 Take Profit 1: 4,564.602 Take Profit 2: 4,520–4,525 Take Profit 3: around 4,433 if wave 5 extends further This setup stays valid while gold remains capped below the recent lower-high area and fails to reclaim bullish momentum. ◌ Invalidation If buyers push price back above 4,630–4,640 and hold there, the bearish wave count becomes weaker. In that case, the current downside scenario may be delayed or invalidated. ▸ Final view Kelly’s main view remains bearish for now. The chart still supports a corrective bounce first, followed by another move lower toward liquidity and the projected wave 5 completion zone. As long as gold stays below the recent swing-high resistance, rallies are still more likely to be sold than chased higher. Do you think gold will complete wave (5) first, or can buyers defend the structure and force a stronger recovery?

by Kelly_Koou_Gold

XAUUSD — 4,643 Trap or 4,553 Sweep? Gold is now trading inside a very sensitive compression area. After the strong bullish run, price is no longer expanding cleanly. The market is now moving between the short-term uptrend support and the descending resistance line. This is where the next move can become sharp. The simple read Gold is currently trading around 4,620 - 4,630. The first resistance to watch is 4,643. This area is marked as the Sell Zone / Liquidity Zone and also sits near the short-term downtrend pressure. If gold pushes into 4,643 and rejects, sellers may try to push price lower toward 4,598 and 4,553. The 4,553 area is the main downside target zone on the chart. But if gold breaks and holds above 4,643, the bearish pressure becomes weaker and price may retest 4,670. Key price zones Current price area: 4,620 - 4,630 Sell liquidity zone: 4,643 Short-term resistance: 4,670 First downside reaction: 4,598 Main downside target: 4,553 Bullish pressure improves above: 4,643 Bearish pressure increases below: 4,620 Trading plan Sell reaction scenario If gold reaches 4,643 and rejects: This can become the cleanest short-term resistance reaction. Price may rotate lower toward 4,598 first. If sellers keep control, 4,553 becomes the next major target zone. Breakdown scenario If gold breaks below the uptrend support: The correction structure becomes stronger. I will watch for continuation pressure toward 4,598 and 4,553. Recovery scenario If gold breaks and holds above 4,643: The sell setup becomes weaker. Gold may try to recover toward 4,670 before choosing the next direction. Tiara’s View Gold is not in a clean chase zone now. The market is compressed between support and resistance. 4,643 is the trap zone above. 4,620 is the pressure line below. 4,553 is the main downside target if sellers win this structure. The clean plan is simple: Do not chase the middle. Wait for 4,643 reaction. Or wait for support breakdown confirmation. Reaction first. Confirmation second. Trade last. No confirmation = no trade. Do you think gold will reject from 4,643, or break higher before the next move?

by Tiara_PrimeGold

XAUUSD: Buying Without Confirmation Is Dangerous Gold remains in a strong broader uptrend, with the recent ABC correction finding support near 4583 . Price is now recovering toward the 4650 resistance zone, where sellers may initially appear. 50 EMA is providing support to the current price, and there is an extension of wave 5 of wave 3. Wave 4 has formed a massive, respectable corrective channel, and the price recently bounced from the lower band of the corrective channel. Guidelines say corrective waves often follow the equality rules, and here we found that on the chart. There are the following resistance levels can be used as targets: 4673 - 4693 - 4756 . Buyers should keep in mind that price has to provide evidence by breaking the resistance zone in order to activate the setup. I will update with further information soon. By @BrightRally_Research on @TradingView

by BrightRally_Research

XAUUSD: Bearish ABC Correction From Sell Zone Gold is still trading inside a strong higher-timeframe recovery, but the current short-term structure is showing correction risk. From Kelly’s view, price has reacted near the upper area after completing a bullish wave, and the next move may develop as an ABC pullback before buyers return again. The key idea is simple: gold may rise slightly first into the sell zone, then continue lower to complete wave C. ⟡ Market structure Gold is currently trading around 4,636 after rejecting from the upper resistance area. The chart shows price is holding below the 4,650–4,665 Sell wave B zone, while the stronger bullish confirmation is still far above near 4,697. As long as gold stays below this resistance, the short-term structure favors a corrective move lower. The first support to watch is 4,618. If this level breaks, price may continue towards the buy scalping zones around 4,600–4,610 and 4,570–4,580. The deeper target is the End wave C zone around 4,535–4,545. ➤ Key levels ◌ 4,650–4,665: Sell wave B zone ◌ 4,636: current price area ◌ 4,618: strong support ◌ 4,600–4,610: first buy scalping area ◌ 4,570–4,580: second buy scalping area ◌ 4,535–4,545: End wave C target zone ◌ 4,697: bullish confirmation / invalidation area ⌁ Elliott Wave view Gold may have completed a short-term bullish wave 5 near the recent high. After that, the current move is likely forming an ABC correction. Wave A may be the first decline from the top. Wave B may retest the 4,650–4,665 resistance zone. Wave C may continue lower towards 4,535–4,545 if sellers remain in control. This means Kelly is not chasing buys near the current price. The cleaner view is to wait for price reaction at resistance and follow the corrective structure lower. ▸ Trading scenario Preferred scenario: wait for gold to retest the Sell wave B zone and show bearish confirmation. Sell zone: 4,650–4,665 Stop loss: above 4,697 Take profit 1: 4,618 Take profit 2: 4,570–4,580 Take profit 3: 4,535–4,545 Alternative scenario: if gold breaks above 4,697 and holds strongly, the bearish ABC correction may fail. In that case, the market may continue the bullish structure instead of dropping into wave C. ⌁ Kelly’s view For Kelly, the main short-term scenario is bearish correction. Gold is still near resistance, and the ABC structure is not complete yet. If 4,650–4,665 holds as resistance, gold may continue lower towards 4,618 first, then 4,535–4,545 to complete wave C. Share your view below.

by Kelly_Koou_Gold

XAUUSD: ABC Pullback Before Rally Gold is trading near the upper Elliott wave 5 zone after a strong bullish move. From Kelly’s view, the main trend still favors buyers, but price may need an ABC correction first before the next clean bullish continuation appears. ⟡ Market structure The chart shows gold has pushed strongly from the 4,450 liquidity area and moved into the 4,637 region. Price is now close to the End wave 5 / Sell zone around 4,640–4,650. This is an important reaction area. If gold fails to break higher directly, a short-term ABC correction may begin. The first support to watch is 4,602. If this level breaks, price may correct deeper into 4,570–4,575, then possibly towards the main End wave ABC / Buy zone around 4,515. ➤ Key levels ◌ 4,640–4,650: End wave 5 / sell reaction zone ◌ 4,637: current price area ◌ 4,602: strong support ◌ 4,570–4,575: short-term support zone ◌ 4,515: End wave ABC / main buy zone ◌ 4,455: strong support liquidity ⌁ Elliott Wave view Gold may be completing wave 5 near the upper Fibonacci area. After wave 5, the market may form an ABC correction: Wave A: pullback from the 4,640–4,650 zone Wave B: short rebound from support Wave C: deeper correction into 4,515 If wave C ends near 4,515 and buyers defend this zone, gold may prepare for another bullish continuation. ▸ Trading scenario Preferred scenario: wait for gold to correct before looking for buy confirmation. Sell reaction zone: 4,640–4,650 if rejection appears Take profit 1: 4,602 Take profit 2: 4,570–4,575 Take profit 3: 4,515 Buy zone: 4,515–4,570 if bullish confirmation appears Stop loss: below the confirmed wave C low Take profit 1: 4,602 Take profit 2: 4,640–4,650 Take profit 3: higher only if bullish momentum continues ◌ Invalidation If gold breaks above 4,650 and holds strongly, the ABC correction may be delayed and wave 5 can extend higher. ⌁ Kelly’s view For Kelly, gold remains bullish overall, but the current area is not ideal for chasing buys. The cleaner plan is to wait for the ABC pullback. If the 4,515–4,570 buy area holds, gold may continue the next bullish move. Share your view below.

by Kelly_Koou_Gold

TATA Steel - Potential completion of Wave C of Zigzag - Buy TATA Steel is presently in its Wave 5 of Primary degree and has completed Wave 3 of minor degree (of Wave (1) of intermediary degree) as a SW5 extension @ 1.618x of SW1-3 on 15 May 2026. Stock has been undergoing correction in the form of a Flat for Wave 4 formation. Wave Structure as follows :- Wave A of the flat formed as a larger structure and Wave (v) ended at 61.8% of Wave (i)-(iii) on 24 July. Wave B got concluded on 6 Aug. Wave C formed as a smaller 5 wave pattern and has taken support at the same region as Wave A conclusion. It is highly likely that stock has concluded Wave C. One may consider going long on the stock with a stop loss 179.

by ChartTheWave