ADANI GREEN Elliott Wave Analysis - Trading Lounge Day Chart
ADANI GREEN Elliott Wave Technical Analysis
FUNCTION: Counter Trend
MODE: Impulsive
STRUCTURE: Navy blue wave 5
POSITION: Gray wave C
DIRECTION NEXT LOWER DEGREES: Navy blue wave 5 (in progress)
DETAILS: Navy blue wave 4 appears complete, initiating navy blue wave 5
Wave Cancel Invalid Level: 1592
The daily Elliott Wave forecast for ADANI GREEN reflects a counter-trend move developing within an impulsive pattern. This suggests strong price action is underway against the broader market direction. The wave structure currently outlines navy blue wave 5, located within a larger corrective pattern marked as gray wave C. This scenario indicates that the stock may be in the final stage of the correction.
Wave analysis supports that navy blue wave 4 has likely ended, and price action is transitioning into navy blue wave 5. This leg generally represents the last move in a counter-trend sequence and often brings swift price movement counter to the dominant trend. The progression of navy blue wave 5 has already started based on current wave counts.
Traders should track the critical invalidation level at 1592. A price move exceeding this level would invalidate the current Elliott Wave setup and call for a new technical outlook. Unless breached, the existing analysis continues to endorse the counter-trend scenario.
From a technical standpoint, ADANI GREEN appears positioned for a final counter-trend phase, confirming the end of wave 4. This suggests rising downside pressure, but market participants should stay alert for any reversal signals as navy blue wave 5 completes the broader corrective structure of gray wave C.
ADANI GREEN Elliott Wave Analysis - Trading Lounge Weekly Chart
ADANI GREEN Elliott Wave Technical Analysis
FUNCTION: Counter Trend
MODE: Impulsive
STRUCTURE: Gray wave C
POSITION: Orange wave 4
DIRECTION NEXT HIGHER DEGREES: Orange wave 5
DETAILS: Gray wave B appears complete, initiating gray wave C
Wave Cancel Invalid Level: 1592
The weekly Elliott Wave analysis for ADANI GREEN illustrates a counter-trend formation within an impulsive structure, signaling sustained movement against the major market trend. The active wave count, gray wave C, is part of a longer correction inside orange wave 4, indicating that the stock may be nearing the end of this phase.
With gray wave B concluded, the market has likely entered gray wave C — typically the final segment in a corrective pattern. This move often shows enhanced momentum opposite to the primary trend. Following its completion, orange wave 5 is anticipated, pointing to a possible resumption of the main trend.
The crucial level to monitor is the invalidation point at 1592. A move beyond this figure would break the current Elliott Wave pattern and require an updated market perspective. Until then, the existing chart formation continues to support the ongoing counter-trend thesis.
Presently, ADANI GREEN appears in the concluding stages of its correction, with gray wave C actively unfolding after gray wave B. This wave's impulsive behavior implies strong selling activity, but it is essential for traders to remain watchful for clues signaling the correction's end under orange wave 4.
Technical Analyst: Malik Awais
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