Timeframe: 4h

Overview:
After hitting a low of 601.20, NSE DLF began an impulsive upward phase. Within this phase, wave (3) extended significantly, reaching a high of 886.80. Currently, the price action is unfolding in a double-three complex corrective structure. The ongoing wave (4) correction has retraced approximately 23.6% of the length covered by wave (3). Earlier, wave (2) had retraced deeply, reaching the 78.6% level at 622.25. Once wave (4) is complete, traders may look forward to a fresh upward move, with the following levels likely to act as potential targets: 840 – 868 – 881+. Traders willing to take short-term risks have a window to enter sell positions, aiming for a target no lower than 790, with strict risk management in place.

Wave (2) Characteristics:

• Retraced more than 78.6% of wave B.
• The structure was a deep, sharp, and strong zigzag.
• It followed the typical A-B-C corrective pattern, indicating a swift and impulsive retracement.

Implication Based on Alternation Principle:

According to Elliott Wave alternation guidelines, if wave (2) is deep and sharp, then wave (4) is expected to differ in:

• Depth: It should be shallow in comparison.
• Speed: Likely to be slower and more drawn-out.
• Structure: Instead of a simple zigzag, it may form a complex correction (e.g., double three or triangle).
• Texture: Price action may appear choppy or sideways.

Based on wave alternation, traders should prepare for wave (4) to be shallow, slow, and complex, in contrast to the aggressive nature of wave (2).

Moving Averages & Price Cluster Around Key Zone

The 100-day and 200-day moving averages are getting closer to each other, and the price is also moving toward them. This suggests a key zone where multiple technical factors are coming together. Interestingly, the retracement levels of wave 4 are forming a cluster right around the current price range. Since the price is still trading above both moving averages, the overall trend remains positive. This area could act as a strong support and might trigger the next leg higher if buyers step in.

We will update further information soon.

Timeframe: 4h

The stock has formed a complex corrective pattern labeled as an A-B-C correction. Wave ((A)) has completed at ₹31,160, and wave D of wave (Y) of wave ((B)) has also materialized. Currently, the price is exhibiting sideways movement and is trading near a resistance line. A breakout above this resistance and the trap box is essential for further directional clarity.

Within wave ((B)), a double correction structure is unfolding:

• Wave W: Completed as a zigzag
• Wave Y: Developing into a possible triangle formation

Traders may consider entering at the 50% Fibonacci retracement level of wave D. Potential targets for this setup are 29,450 – 30,300 – 31,250.  In case wave C is breached, traders should be cautious of opposing forces that could trigger a sharp decline, leading to a deep retracement.

We will update further information for premium subscribers soon.

Did you take a trade based on the MCX Silver price action breakdown?
Click here: MCX Silver: The Path to 1,11,000 or a Dip to 80,000?

We had written clearly, “Short-term targets could be 95960-98160-99600. After the breakout, we can see a massive move up to 1,11,000“.

Timeline:

[16 April 2025]

• 12:45 PM: Price hit the first target of  95960.

[29 April 2025]

• 02:00 PM: Price reached the second target of 98160.

[2 June 2025]

• 06:45 PM: Silver touched the second target of 99600.

[18 June 2025]

• 02:25 PM: Price made a new high of 109,692.

Do you think Silver will hit my final target of 1,11,00? If you’re a free subscriber, it’s a good time to book profits here.
Further updates and insights will be shared exclusively with premium members.

Did you trade NSE ETERNAL (Zomato) Trade setup?
Click here: NSE ETERNAL – Range Setup

We had written clearly, “Traders should note that if the price breaks above 224, the targets would be 235 – 250 – 268. “

Timeline:
[17 April 2025]

• 02:00 PM – NSE ETERNAL hit the first target of 235.

[05 June 2025]

• 09:15 AM – Price reached the 2nd target of 250, and made a new high of 260.2.

Free subscribers can book their profits here. We will update further information for premium members soon.

Timeframe: 4h
The 4-hour chart of Zinc Futures shows a clear downward-sloping channel, which has shaped the overall market trend for some time. Price has respected the upper and lower boundaries of this channel, reacting strongly whenever it moved too far from fair value. Recently, buyers stepped in around 243.40–243.90, creating a new value zone where the market seems more comfortable. This area acted as strong support after a sharp drop, suggesting that buyers are starting to regain control.

After bouncing from this support, the price managed to break above the middle line of the channel, though it faced some resistance and pulled back slightly. This kind of behavior is common in market structure, where breakouts are often followed by a retest before continuing. The tight range seen after the bounce shows signs of sellers getting absorbed, and the shift from lower lows to higher lows is a strong sign that momentum may be turning upward.

If price holds above the 253 to 254 area and breaks through the 259 to 260 zone with strength, we could see a continued move higher. The immediate upside targets are 260 – 265 – 271+, all of which align with previous reaction levels and Fibonacci projections. These levels represent key points where sellers might try to re-enter the market. If buyers maintain control, the rally could extend even further. However, if price slips back below 253, the bullish setup may fail, and a deeper pullback could follow.

We will update further information for premium members soon.

Wave (A) starts the decline from 1.59614 to 1.56686, followed by wave (B) as a contracting triangle (ABCDE) with key points at 1.58197 (A), 1.54834 (B), 1.57239 (C), 1.55380 (D), and a lower high at E. This triangle signals consolidation, typically seen in wave B, and often precedes a continuation in the direction of the previous trend, bearish in this case. The contracting triangle reflects market indecision and decreasing volatility before a decisive move. Such patterns usually indicate a pause within a larger corrective phase, setting the stage for the next strong wave.

Wave (C) is expected to follow, supported by Fibonacci levels at 1.55002 (retracement) and 1.54315 (extension). A break below 1.55380 confirms the bearish move, with short targets at 1.55300 – 1.54700 – 1.54120+. Invalidation occurs above 1.57239. Key Elliott Wave principles support this setup, highlighting the triangle as a continuation pattern.

We will update further information for premium members soon.