Hello Friends, Welcome to RK_Chaarts,
This analysis is purely for educational purposes, it reflects one possible wave count and should not be considered as financial advice or a buy/sell recommendation. Markets always carry risk, so please do your own research and consult a financial advisor before making any investment decisions.
TCI Express has been on my radar for a while now. And honestly, after watching this stock fall from 2,500 all the way down to the 447 zone, I think the chart is finally starting to tell a different story.
Let me walk you through everything I'm seeing.
Where It All Started
If you go back to 2017, TCI Express was a relatively quiet stock, slowly grinding higher inside a rising channel, from 254 to 900, Nothing dramatic, just steady. Then COVID hit in 2020 and the stock got crushed along with everything else, falling to around 437. That turned out to be one of the most important price points in this stock's history, because everything that came after started from there.
The Big Rally Nobody Wants to Talk About Anymore
From that 254 COVID low, TCI Express went on an absolute tear. The stock climbed all the way to 2,500 plus nearly a 10x move in under two years. The reason was simple. COVID accelerated e-commerce adoption across India, and express logistics companies like TCI became the backbone of that shift. The business was genuinely firing, and the stock reflected that perfectly.
On the Elliott Wave side, this entire rally from the 2020 low mapped out as a clean five-wave impulse, Wave 1, 2, 3, 4, and 5, with Wave 3 being the longest and most aggressive leg, exactly as the theory suggests. The internal structure was textbook.
Then Came the Long Painful Correction
After peaking near 2,500 in Dec-2021, the stock entered a correction that has now lasted over four years. And it has not been a simple one. There was a sharp initial drop, then a relief bounce that fooled a lot of people into thinking the worst was over, it was only contra trend wave (B) and then another leg lower that just kept going as wave (C) of Intermediate degree (Blue) within wave ((2)) primary degree (Black).
What you see on the right side of the chart is the tail end of this entire correction playing out as a five-wave decline within wae (C), one final structured move down that has been completing wave by wave over the past year or so.
The stock recently made a low around the 447 area. And that low, in my reading of the chart, looks like it could be the completion of the entire four-year correction.
Why This Level Matters
A few things are converging here that make this zone interesting.
The current price level represents roughly an 85 percent retracement of the entire rally from the 2020 low to the 2022 high. That is deep, no question. But deep retracements are not uncommon in high-momentum stocks after a big run, and the structure leading into this low has the characteristics of a corrective move that is exhausting itself rather than breaking down entirely.
The descending channel that has contained this correction for the past two years is also showing signs of being tested from below. That channel has acted as resistance on every bounce attempt. A clean break and close above it would be a meaningful shift in character for this stock.
What Comes Next If the Count Are Right.
If Wave ((2)) has genuinely completed here, then the next move will be Wave ((3)).
Wave ((3)) should ideally target levels not only above the high of Wave ((1)) but 161.8% of it. Since this is on the weekly timeframe, we should think of Wave ((3)) as a very long-term move.
Inside Wave ((3)), we will also see five smaller sub-waves, Wave (1), (2), (3), (4), and (5) forming higher highs and higher lows. So once Wave (1) starts moving up from here and then makes a higher low in Wave (2), remember one Elliott Wave rule: Wave (2) should not go below the low of Wave (1). Because of that, the bottom where Wave ((2)) has just ended becomes our invalidation level. As per Elliott Wave theory, this low should not be taken out now.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com/u/RK_Chaarts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Chaarts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Chaarts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
This analysis is purely for educational purposes, it reflects one possible wave count and should not be considered as financial advice or a buy/sell recommendation. Markets always carry risk, so please do your own research and consult a financial advisor before making any investment decisions.
TCI Express has been on my radar for a while now. And honestly, after watching this stock fall from 2,500 all the way down to the 447 zone, I think the chart is finally starting to tell a different story.
Let me walk you through everything I'm seeing.
Where It All Started
If you go back to 2017, TCI Express was a relatively quiet stock, slowly grinding higher inside a rising channel, from 254 to 900, Nothing dramatic, just steady. Then COVID hit in 2020 and the stock got crushed along with everything else, falling to around 437. That turned out to be one of the most important price points in this stock's history, because everything that came after started from there.
The Big Rally Nobody Wants to Talk About Anymore
From that 254 COVID low, TCI Express went on an absolute tear. The stock climbed all the way to 2,500 plus nearly a 10x move in under two years. The reason was simple. COVID accelerated e-commerce adoption across India, and express logistics companies like TCI became the backbone of that shift. The business was genuinely firing, and the stock reflected that perfectly.
On the Elliott Wave side, this entire rally from the 2020 low mapped out as a clean five-wave impulse, Wave 1, 2, 3, 4, and 5, with Wave 3 being the longest and most aggressive leg, exactly as the theory suggests. The internal structure was textbook.
Then Came the Long Painful Correction
After peaking near 2,500 in Dec-2021, the stock entered a correction that has now lasted over four years. And it has not been a simple one. There was a sharp initial drop, then a relief bounce that fooled a lot of people into thinking the worst was over, it was only contra trend wave (B) and then another leg lower that just kept going as wave (C) of Intermediate degree (Blue) within wave ((2)) primary degree (Black).
What you see on the right side of the chart is the tail end of this entire correction playing out as a five-wave decline within wae (C), one final structured move down that has been completing wave by wave over the past year or so.
The stock recently made a low around the 447 area. And that low, in my reading of the chart, looks like it could be the completion of the entire four-year correction.
Why This Level Matters
A few things are converging here that make this zone interesting.
The current price level represents roughly an 85 percent retracement of the entire rally from the 2020 low to the 2022 high. That is deep, no question. But deep retracements are not uncommon in high-momentum stocks after a big run, and the structure leading into this low has the characteristics of a corrective move that is exhausting itself rather than breaking down entirely.
The descending channel that has contained this correction for the past two years is also showing signs of being tested from below. That channel has acted as resistance on every bounce attempt. A clean break and close above it would be a meaningful shift in character for this stock.
What Comes Next If the Count Are Right.
If Wave ((2)) has genuinely completed here, then the next move will be Wave ((3)).
Wave ((3)) should ideally target levels not only above the high of Wave ((1)) but 161.8% of it. Since this is on the weekly timeframe, we should think of Wave ((3)) as a very long-term move.
Inside Wave ((3)), we will also see five smaller sub-waves, Wave (1), (2), (3), (4), and (5) forming higher highs and higher lows. So once Wave (1) starts moving up from here and then makes a higher low in Wave (2), remember one Elliott Wave rule: Wave (2) should not go below the low of Wave (1). Because of that, the bottom where Wave ((2)) has just ended becomes our invalidation level. As per Elliott Wave theory, this low should not be taken out now.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com/u/RK_Chaarts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Chaarts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Chaarts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
YouTube: youtube.com/@rk_charts
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Powiązane publikacje
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.
YouTube: youtube.com/@rk_charts
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Powiązane publikacje
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.