Godrej Consumer Products: Wave (4) Double Combo Testing Support
Wave (4) seems to have evolved as a double combination (W–X–Y), with prices now testing the W–Y trendline support near the 0.618 retracement (~₹1,096).
The structure has been slow and overlapping — typical of a Wave (4) correction.
RSI too rests at channel support, hinting at momentum exhaustion.
A steady hold above this zone could pave the way for Wave (5), but confirmation is still pending.
Invalidation remains below ₹979.50.
Strategy:
Watch price behavior near the current support zone. Patience here pays more than prediction.
Disclaimer:
This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
The structure has been slow and overlapping — typical of a Wave (4) correction.
RSI too rests at channel support, hinting at momentum exhaustion.
A steady hold above this zone could pave the way for Wave (5), but confirmation is still pending.
Invalidation remains below ₹979.50.
Strategy:
Watch price behavior near the current support zone. Patience here pays more than prediction.
Disclaimer:
This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
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WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.