TASI INDEX – Elliott Wave Analysis – TradingLounge Daily Chart
TASI INDEX Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Navy blue wave 1
Position: Gray wave 3
Direction Next Lower Degrees: Navy blue wave 2
Details: Gray wave 2 appears completed; navy blue wave 1 of 3 is now in progress.
Wave Cancel Invalid Level: 10657
The TASI INDEX daily Elliott Wave analysis signals the beginning of a bullish impulsive phase. With gray wave 2 completing its corrective structure, the market has transitioned into navy blue wave 1 within the broader gray wave 3. This suggests the formation of a new bullish cycle, often marked by growing market momentum and positive sentiment.
Navy blue wave 1 signifies the early stage of the impulsive sequence. Typically less aggressive than wave 3, it serves as a foundation for the trend, building confidence among traders. This wave emerges following a corrective retracement (gray wave 2), and its structure implies a steady rise, setting the groundwork for stronger price action ahead.
Upon the completion of wave 1, a corrective navy blue wave 2 is anticipated. This pullback may present a low-risk entry before the powerful wave 3 gains traction. The key invalidation level remains at 10657—a break below this point would invalidate the bullish scenario and require a reevaluation of the wave count.
Daily chart readings suggest potential for trend continuation. As navy blue wave 1 matures, traders should watch for confirmation through increased trading volume and consistent price progression. The evolving impulsive pattern indicates positioning opportunities before the next major advance.
This phase is critical within the Elliott Wave structure as the market prepares to move into a stronger wave 3. Monitoring market behavior now can help traders position ahead of this expected bullish acceleration.
TASI INDEX – Elliott Wave Analysis – TradingLounge Weekly Chart
TASI INDEX Wave Technical Analysis
Function: Bullish Trend
Mode: Impulsive
Structure: Gray wave 3
Position: Orange wave 3
Direction Next Higher Degrees: Gray wave 3 (started)
Details: Gray wave 2 appears completed; gray wave 3 is now in progress.
Wave Cancel Invalid Level: 10657
The TASI INDEX weekly Elliott Wave forecast highlights a major bullish impulsive sequence. Following the completion of gray wave 2’s correction, the index is now unfolding into gray wave 3 within the higher-degree orange wave 3. This setup often characterizes the most dynamic and sustained portion of an Elliott Wave advance.
Gray wave 3 is historically the strongest wave, frequently exceeding wave 1 in both speed and magnitude. The recent breakout signals the start of a powerful upward trend, with the market gaining momentum as investor confidence grows. This wave’s development reinforces the expectation for extended price appreciation.
The broader structure shows the TASI INDEX advancing within a multi-degree bullish phase. As orange wave 3 continues to progress, long-term investors and traders alike should anticipate further gains. The invalidation level at 10657 remains a key risk marker—a break below would call this wave scenario into question.
Indicators of wave 3 strength include sustained price increases, expanding volume, and persistent trend alignment. These technical signals help validate the impulsive structure and offer clarity for position management. Traders should be alert for emerging patterns that may confirm the ongoing move or signal the start of gray wave 4.
As gray wave 3 unfolds, the market sets the stage for significant upside potential. The expected corrective wave 4 will follow, offering a retracement phase before continuation. This current segment is essential for capturing high-momentum trades within the Elliott Wave framework.
Technical Analyst: Malik Awais
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