TCS – From Correction to Acceleration?

26 Mei

TCS appears to have completed a textbook Zigzag correction (A-B-C) ending at ₹3056.05 — right at the long-term trendline support that has held since 2020.

From this base, the structure is now forming a clean impulsive sequence:

• Wave 1 topped at ₹3630.50
  
• Wave 2 retraced to ₹3451.30, holding between 0.236–0.382 retracement zones
  
• The current rally may be the start of Wave 3, with fib projections targeting the ₹4025–4380 zone
  

Supporting evidence:

• Strong RSI bullish divergence at the March low
  
• Breakout above ₹3630.50 would confirm Wave 3 ignition
  

Invalidation:
Break below ₹3056.05 would invalidate this count and suggest a larger correction.

Tools Used: Elliott Wave, Fibonacci, RSI
Timeframe: Daily

Weekly timeframe view attached below for broader context:



This is a technical analysis for educational purposes only and not financial advice.

Part of the ongoing #WaveTracker series.
Documenting Elliott Wave progression across major stocks.

28 Mei

Catatan

Structure still intact. As long as 3056.05 holds, upside potential in-terms of Wave 3 still holds true.

9 Jun

Catatan

Triangle breakout? check out the recent publication: