TECH MAHINDRA Elliott Wave technical analysis
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Function: Counter Trend.
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Mode: Impulsive.
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Structure: Navy Blue Wave 3.
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Position: Gray wave C.
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Direction (Next higher degrees): Navy blue wave 4.
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Details: Navy Blue Wave 2 appears complete; Navy Blue Wave 3 of C is now underway.
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Invalidation level: 1621.
Thedaily chart of Tech Mahindra, analyzed throughElliott Wave theory, indicates acounter-trend impulsive move. Following the completion ofnavy blue wave 2, price action has now enterednavy blue wave 3, which is unfolding within the broadergray wave Ccorrective structure.
Wave 3 is often the strongest phase in an Elliott sequence, typically marked by sustained price growth and increasing momentum. The successful completion ofwave 2has set the stage for this movement. Aswave 3 progresses, it completes a portion of the larger corrective framework initiated from a higher timeframe.
Next,navy blue wave 4is expected oncewave 3concludes. This will likely be acorrective pullback, potentially offering strategic entry or exit points. Traders should watch for Fibonacci extension levels as indicators for wave 3’s end. Thekey support level is 1621—a breach of this level invalidates the current wave count and would require a reassessment of the structure.
The ongoing impulsive move implies strong market engagement, possibly supported by positive fundamentals. Increasingvolume and momentumduring this phase supports the strength of wave 3. Traders should look for typical wave 3 behaviors—momentum surges, rising volume, and steady price action—as they manage positions during this move.
Maintaining positions through this wave may be effective until there areclear signs of wave 3 completion. Risk management should factor in thecritical invalidation point at 1621.
TECH MAHINDRA Elliott Wave technical analysis
Theweekly chart for Tech Mahindra, analyzed usingElliott Wave theory, shows that the stock has finishedgray wave B of 2and is currently progressing throughgray wave C of 2, within the broaderorange wave 2 corrective structure. This setup suggests acounter-trend movementwith impulsive behavior, pointing to strong directional momentum in this correction.
Gray wave C is typically the final and most dynamic part of a corrective sequence, often pushing toward or even beyond previous lows. This phase signals the likelyend of the correction, withorange wave 3expected to follow—a move that could bring strong upward momentum and mark the start of the next trend phase.
Orange wave 3, at the higher degree, is projected to beimpulsive and powerful, potentially offering significant market moves. Traders should carefully monitorgray wave Cfor signs of completion, using common Elliott Wave end-patterns andFibonacci targetsas reference points.
Thisweekly perspectiveprovides an intermediate-term view, indicating the current phase as a pause before aresumption of the broader trend. The impulsive nature ofgray wave Calso implies that traders might findhigh risk-reward opportunitiesbefore the start of wave 3.
Price action signals and supporting technical tools such asmomentum indicatorsorvolume trendscan help confirm wave completion. The outlook encourages positioning for theupcoming shift into orange wave 3, while noting thatwave C can sometimes extend, making ongoing analysis important as market conditions evolve.
Technical Analyst: Malik Awais.
TECH MAHINDRA Elliott Wave technical analysis [Video]
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