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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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.