GMR Power — Extended Wave-3, Contracting Wave-4… Resolution
📉 GMR Power & Urban Infra — Weekly Context and Daily Wave-4 / Wave-5 Structure (Elliott Study)
This publication presents an educational Elliott Wave structure study 📚 using the Weekly timeframe for the overall market context and the Daily timeframe to analyse the ongoing Wave-4 correction, its probable termination area, and the conditional Wave-5 projection.
On the Weekly chart, GMR Power shows a clear impulsive advance from the 2023 base into the ₹169.25 region, labelled as Wave-(3). Fibonacci extension analysis shows that this move exceeded the 3.618 extension and approached the 4.0 level, confirming that Wave-3 is the extended wave. After this peak, price behaviour shifted from strong trending action to overlapping and corrective movement, signalling the development of Wave-(4).
On the Daily chart, Wave-(4) is unfolding as a contracting triangle (A–B–C–D–E) 🔺. Each leg is corrective and overlapping, volatility has contracted, and momentum has faded. This behaviour is typical of a Wave-4 triangle following an extended Wave-3, where the market corrects more through time than price ⏳.
From a structural and Fibonacci perspective 📐, the Wave-E termination zone is identified between approximately ₹85–95. This region aligns with the 0.618–0.786 retracement band of the prior advance. In Elliott Wave studies, Wave-E of a triangle often resolves quietly and may not show a dramatic breakdown, which matches the current behaviour.
Because Wave-3 is extended, Elliott alternation principles suggest that Wave-5 is more likely to be contracted rather than extended. Therefore, Wave-5 expectations are best framed using triangle thrust measurement and reduced Fibonacci relationships to Wave-1, rather than equality or extension relative to Wave-3.
Using these methods, the primary Wave-5 reference zone lies in the ₹120–140 region. A move toward the ₹160–170 area would be considered a lower-probability stretch scenario and would require clear impulsive behaviour and momentum expansion. A truncated Wave-5 remains possible but is not the base expectation.
This study focuses on structure, probability, and wave behaviour 🧠 rather than prediction. Discussion of Wave-5 becomes relevant only after the triangle completes and price clearly transitions from corrective overlap to impulsive movement.
This publication is shared strictly for educational and analytical discussion 📚⚠️ and does not constitute investment advice.
This publication presents an educational Elliott Wave structure study 📚 using the Weekly timeframe for the overall market context and the Daily timeframe to analyse the ongoing Wave-4 correction, its probable termination area, and the conditional Wave-5 projection.
On the Weekly chart, GMR Power shows a clear impulsive advance from the 2023 base into the ₹169.25 region, labelled as Wave-(3). Fibonacci extension analysis shows that this move exceeded the 3.618 extension and approached the 4.0 level, confirming that Wave-3 is the extended wave. After this peak, price behaviour shifted from strong trending action to overlapping and corrective movement, signalling the development of Wave-(4).
On the Daily chart, Wave-(4) is unfolding as a contracting triangle (A–B–C–D–E) 🔺. Each leg is corrective and overlapping, volatility has contracted, and momentum has faded. This behaviour is typical of a Wave-4 triangle following an extended Wave-3, where the market corrects more through time than price ⏳.
From a structural and Fibonacci perspective 📐, the Wave-E termination zone is identified between approximately ₹85–95. This region aligns with the 0.618–0.786 retracement band of the prior advance. In Elliott Wave studies, Wave-E of a triangle often resolves quietly and may not show a dramatic breakdown, which matches the current behaviour.
Because Wave-3 is extended, Elliott alternation principles suggest that Wave-5 is more likely to be contracted rather than extended. Therefore, Wave-5 expectations are best framed using triangle thrust measurement and reduced Fibonacci relationships to Wave-1, rather than equality or extension relative to Wave-3.
Using these methods, the primary Wave-5 reference zone lies in the ₹120–140 region. A move toward the ₹160–170 area would be considered a lower-probability stretch scenario and would require clear impulsive behaviour and momentum expansion. A truncated Wave-5 remains possible but is not the base expectation.
This study focuses on structure, probability, and wave behaviour 🧠 rather than prediction. Discussion of Wave-5 becomes relevant only after the triangle completes and price clearly transitions from corrective overlap to impulsive movement.
This publication is shared strictly for educational and analytical discussion 📚⚠️ and does not constitute investment advice.
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Will this hold ?
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Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.