Low-Risk Entry Zones Emerging in TCS and CANARA BANK

TCS - Potential Nested 1-2 / 1-2 Setup
After completing a higher-degree corrective phase, TCS has likely begun a new impulse sequence. The structure so far suggests a nested 1-2 / 1-2 setup:

• Higher-degree Wave 1 peaked near 3630.50, followed by a corrective Wave 2 into 3358.70.
  
• Inside the new sequence, minor wave i topped at 3538.00, with a minor wave ii correction down to 3370.00.
  

This leaves the door open for a sharp upside move if the structure unfolds as a Wave 3 acceleration phase. The invalidation for this scenario remains tight below 3358.70. As long as price holds above this level, the nested setup remains intact with Fibonacci projection targets at:

• 3549 (1.0x)
  
• 3660 (1.618x)
  
• 3839 (2.618x)
  

Risk Management Note:
The tight invalidation allows for a favorable risk-reward profile. If price breaks below 3358.70, the nested count would be invalidated and a larger degree corrective structure may still be unfolding.

CANARA BANK - Impulse in Progress with Minor Wave 5 Pending
CANARA BANK presents a slightly different but equally interesting structure. Here, we observe a clean five-wave impulse unfolding from the March low of 78.60:

• Major Wave 1: 95.19
  
• Major Wave 2: 83.70 (deep but typical retracement)
  
• Minor Wave 1: 102.63
  
• Minor Wave 2: 90.95
  
• Minor Wave 3: 119.30 (strong extension)
  
• Minor Wave 4: 104.60 (respecting 50% retracement of Minor 3)
  

Price is now in the early stages of Minor Wave 5, which could complete the larger degree Wave 3. Fibonacci projections for the higher degree Wave 3 stand between 123.5 and 135.2.

Risk Management Note:
The invalidation for the immediate setup lies below 104.60. As long as this level holds, the path higher remains favored.




Summary:
Both TCS and CANARA BANK are showcasing clean Elliott Wave setups with well-defined invalidation zones. Traders following these patterns should monitor the invalidation levels closely, as failure to hold these zones will require a reassessment of the wave counts. However, while price respects these structures, the potential for sharp impulsive advances remains on the table.

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.