After completing a higher-degree Wave 2/B correction that ended with an ending diagonal near 1520, Tata Communications has turned up sharply. Price is now trading above the 200-day SMA (1638) and is heading into a critical resistance cluster.
The structure from 1291 to 1818 earlier unfolded as a Leading Diagonal (Wave 1/A), followed by a complex decline into Wave 2/B. The present advance is unfolding with a 1–2, 1–2 setup, typical of a powerful 3rd wave, but it could equally be counted as a Wave C of an A–B–C correction.
Key Technicals:
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 from 1291 to 1818 earlier unfolded as a Leading Diagonal (Wave 1/A), followed by a complex decline into Wave 2/B. The present advance is unfolding with a 1–2, 1–2 setup, typical of a powerful 3rd wave, but it could equally be counted as a Wave C of an A–B–C correction.
Key Technicals:
- RSI is rising with room to stretch into the 70+ zone — confirmation of Wave 3 strength if it sustains.
- SMA200 has been reclaimed, tilting momentum in favor of bulls.
- Invalidation sits at 1624 — below this, the bullish setup fails.
- Target: In either case, the rally should extend above Wave 1/A peak at 1818.70.
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.
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📊 X profile: @veerappa89
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Penerbitan berkaitan
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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.