COAL INDIA Elliott Wave Analysis – TradingLounge Daily Chart
COAL INDIA Stock Overview & Technical Insight
COAL INDIA Elliott Wave Technical Analysis
Function: Counter-Trend
Mode: Corrective
Structure: Gray Wave B
Position: Orange Wave 4
Next Lower Degree Direction: Gray Wave C
Invalidation Level: 543.16
Analysis Overview:
COAL INDIA’s daily chart reveals a counter-trend corrective pattern within a larger Elliott Wave cycle. The focus is on Gray Wave B, part of the broader Orange Wave 4 structure.
According to Elliott Wave principles, Gray Wave A has likely completed its downward leg, and the stock is now moving through Gray Wave B—signaling a corrective rebound. This wave represents a temporary pause in the downtrend before transitioning into Gray Wave C, continuing the bearish move.
The key invalidation level is 543.16. A break above this price invalidates the current wave count.
Structural Insight & Strategic Outlook:
Gray Wave B, positioned within Orange Wave 4, suggests a mid-trend corrective retracement. Traders should watch for classic correction patterns—like three-wave moves or sideways price action—that typically develop during counter-trend phases.
Wave structure hierarchy remains critical. Upon the completion of Wave B, a decline into Wave C is expected, potentially offering renewed bearish trading setups.
Trading Considerations:
Short-Term Opportunity: Potential upside during corrective Gray Wave B.
Long-Term Strategy: Monitor for transition into bearish Gray Wave C.
Risk Level: Invalidation above 543.16.
COAL INDIA Elliott Wave Analysis – TradingLounge Weekly Chart
Market Structure & Price Trend Outlook
COAL INDIA – Elliott Wave Technical Analysis
Function: Counter-Trend
Mode: Corrective
Structure: Gray Wave B
Position: Orange Wave 4
Next Lower Degree Direction: Gray Wave C
Invalidation Level: 543.16
Analysis Overview:
The weekly Elliott Wave analysis of COAL INDIA highlights a broader corrective phase within Orange Wave 4. The current active wave is Gray Wave B, part of a mid-cycle retracement.
Gray Wave A appears to have ended its downward sequence, with Gray Wave B now unfolding. This reflects a short-term counter-trend rebound within the dominant downtrend, ahead of a potential continuation via Gray Wave C.
The 543.16 level stands as a crucial invalidation point—surpassing it would negate this wave count.
Strategic Structure & Market Perspective:
This longer-term view positions Gray Wave B as a part of the Orange Wave 4 correction. Traders should look for corrective formations like ABC patterns or horizontal consolidations.
Understanding wave relationships is key. A completed Wave B would likely lead into Wave C, resuming the downward trend and presenting bearish trading prospects.
Trading Considerations:
Medium-Term Opportunity: Possible gains in corrective Wave B.
Long-Term Positioning: Prepare for downside move in Wave C.
Risk Management: Key invalidation remains at 543.16.
Technical Analyst: Malik Awais
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