InterGlobe Aviation (INDIGO) – Weekly Elliott Wave Outlook
On the weekly timeframe, INDIGO is clearly trading within a long-term rising channel, maintaining a strong primary uptrend. The structure so far suggests a completed impulsive sequence, with wave (iii) already in place and a corrective phase currently unfolding. The recent decline appears to be part of a corrective ABC structure, where wave C is projected to test the 38.2% retracement zone near 4430–4500, which also aligns well with channel support and prior demand. This zone is expected to act as a strong base before the next leg higher.
From an Elliott Wave perspective, the ongoing correction is likely forming wave (iv) of the higher-degree impulse. Once this corrective phase completes, the stock is expected to resume its primary uptrend with wave (v), which could eventually push prices toward the upper channel and new all-time highs. The projected path shows a temporary consolidation, followed by impulsive upside continuation, respecting the broader bullish structure.
Overall, as long as price holds above the highlighted retracement support, the larger trend remains bullish. Any dips into the 4430–4500 region should be watched closely for signs of reversal and strength, as that area may offer a favorable risk–reward setup for trend continuation.
Disclaimer:
This analysis is based purely on technical and Elliott Wave interpretation for educational purposes only. It is not a buy or sell recommendation. Markets are subject to risk, and traders should do their own research and manage risk appropriately before taking any position.
On the weekly timeframe, INDIGO is clearly trading within a long-term rising channel, maintaining a strong primary uptrend. The structure so far suggests a completed impulsive sequence, with wave (iii) already in place and a corrective phase currently unfolding. The recent decline appears to be part of a corrective ABC structure, where wave C is projected to test the 38.2% retracement zone near 4430–4500, which also aligns well with channel support and prior demand. This zone is expected to act as a strong base before the next leg higher.
From an Elliott Wave perspective, the ongoing correction is likely forming wave (iv) of the higher-degree impulse. Once this corrective phase completes, the stock is expected to resume its primary uptrend with wave (v), which could eventually push prices toward the upper channel and new all-time highs. The projected path shows a temporary consolidation, followed by impulsive upside continuation, respecting the broader bullish structure.
Overall, as long as price holds above the highlighted retracement support, the larger trend remains bullish. Any dips into the 4430–4500 region should be watched closely for signs of reversal and strength, as that area may offer a favorable risk–reward setup for trend continuation.
Disclaimer:
This analysis is based purely on technical and Elliott Wave interpretation for educational purposes only. It is not a buy or sell recommendation. Markets are subject to risk, and traders should do their own research and manage risk appropriately before taking any position.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.