SILVER — Structure Under Stress (XAGUSD & MCX)

 Date: 05 Feb 2026

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Overview

Silver has experienced a sharp impulsive decline, causing structural damage after a strong prior advance. The current recovery attempt lacks impulsive characteristics and is best treated as corrective, not trend-reversing.

Both XAGUSD (global reference) and MCX Silver (local execution) confirm this view, despite MCX’s known price distortions.

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Structure Position

• Prior advance: Impulsive

• Recent selloff: Impulsive down → confirms trend damage

• Current move: Corrective / overlapping

• No confirmed bullish impulse yet

This is a repair phase, not a fresh trend.

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Market Context

• Volatility remains elevated

• Overlapping candles suggest distribution / corrective behaviour

• Time-based correction is more likely than directional expansion

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Key Zones & Levels

XAGUSD (3H)

Support / Demand

• 78.5 – 80.0 → major demand

• 74.5 – 75.0 → last defence

• 71.5 → breakdown level

Resistance / Supply

• 86.5 – 88.0 → immediate cap

• 93.0 – 95.0 → major corrective ceiling

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MCX SILVER (3H)

(Execution follows XAGUSD direction, not independently)

Support / Demand

• 245,000 – 248,000

• 235,000 – 238,000

• 225,000 → structural base

Resistance / Supply

• 270,000 – 275,000

• 290,000 – 295,000

• 300,000+ → requires full structural repair

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Decision Zones

• XAGUSD 80 / MCX 245k → must hold to avoid renewed decline

• XAGUSD 88 / MCX 275k → must clear for corrective extension

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Invalidation / Risk Levels

• XAGUSD below 71.5 → bearish continuation confirmed

• MCX below 225k → structural breakdown

• Acceptance above XAGUSD 95 / MCX 300k → current view invalid

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Expected Behaviour

• Choppy, overlapping price action

• Sharp moves with quick reversals

• Structure favours patience over prediction

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Conclusion

Silver remains structurally damaged after an impulsive selloff.
Current recovery is corrective.
Directional clarity only comes outside the defined zones.

https://www.tradingview.com/chart/XAGUSD/lDEheCkY-SILVER-Structure-Under-Stress-XAGUSD-MCX/

#Silver #XAGUSD #MCXSilver #MarketStructure #ElliottWave #Commodities #TechnicalAnalysis 

NSE – NIFTY 750 | Infosys Limited | 05 Feb 2026

 

🔍 Overview

Monthly structure view of Infosys Limited as part of the NIFTY 750 Structure Census.
This study focuses on long-term structural behaviour and regime characteristics, without short-term or directional bias.

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🧱 Structure Position

• Structure assessed from earliest reliable data

• Long-term rising structural support observed

• Multi-cycle advance maintained despite intermittent corrections

• No structural breakdown visible on the monthly timeframe

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🌍 Market Context

• Infosys has sustained its structure across multiple market regimes

• Major global and domestic drawdowns were absorbed without long-term damage

• Pullbacks remained corrective in nature within the broader structure

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📐 Key Zones & Levels (Structural)

• Long-term rising support defines the dominant structure

• Upper zone reflects historical supply and consolidation, not exhaustion

• Levels are contextual, not actionable

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🔄 Expected Behaviour (Structure-Based)

• Continuation of higher-range consolidation likely within the long-term structure

• Directional resolution not assumed at this stage

• Behaviour remains constructive as long as structural support holds

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🚦 Invalidation / Risk Levels

• Sustained violation of long-term rising support would weaken the current structural view

• No short-term invalidation implied

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🧾 Conclusion

Infosys continues to exhibit a long-term rising structural framework, with the current phase reflecting higher-level consolidation rather than trend termination.

This is a structural update, not a directional call.

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https://www.tradingview.com/chart/INFY/aQx6KXu7-NSE-NIFTY-750-Infosys-Limited-05-Feb-2026/

#NIFTY750
#StructureCensus
#EquityStructure
#MarketStructure
#LongTermCharts
#IndianEquities
#EWAVESJOURNAL

NSE – NIFTY 750 | ICICI Bank | 05 Feb 2026

🔍 Overview

Monthly structure view of ICICI Bank as part of the NIFTY 750 Structure Census.
This assessment focuses on long-term structural behaviour, regime shifts, and dominant trend characteristics, without short-term projections.

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🧱 Structure Position

• Structure assessed from earliest reliable data

• Long-term impulse structure observed

• Post-2002 regime marked by persistent higher highs and higher lows

• Rising structural support has remained intact through multiple cycles

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🌍 Market Context

• Major corrections (2008, 2020) resolved within the same long-term rising regime

• Each deep correction was followed by structural continuation rather than breakdown

• Indicates trend resilience, not acceleration certainty

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📐 Key Zones & Levels (Structural)

• Long-term rising support: intact

• Recent structure: higher-level consolidation near trend highs

• No structural damage visible on the monthly timeframe

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🔄 Expected Behaviour (Structure-Based)

• Continuation of range-to-range movement within the broader impulse regime

• Consolidation is structurally normal at this maturity level

• Directional resolution will depend on how price behaves relative to long-term support

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🚦 Invalidation / Risk Levels

• Structural view weakens only on decisive long-term support violation

• Until then, impulse regime remains valid

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🧾 Conclusion

ICICI Bank continues to exhibit a clean, long-term impulse structure with mature consolidation near highs.
The chart reflects structural strength, not a directional forecast.

This is a structural update, not a directional call.

https://www.tradingview.com/chart/ICICIBANK/hzrrO7LD-NSE-NIFTY-750-ICICI-Bank-05-Feb-2026/

#NIFTY750 #ICICIBank #MarketStructure #EquityStructure #LongTermCharts #EWAVESJOURNAL

USDCAD — Weekly Structural Update

 Corrective Pullback Context | Support Holding

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🔍 Overview

USDCAD is currently undergoing a corrective pullback after failing to sustain above long-term resistance. Price is now sitting at a descending trendline, which limits immediate downside continuation and introduces the possibility of a counter-trend bounce.

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🧩 Structure Position

• Long-term uptrend from the 2011 low remains intact

• Price is below major resistance (1.4834)

• Recent weakness appears corrective, not impulsive

• Immediate downside is constrained by trendline support

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🌐 Market Context

Pullbacks into well-defined trendline support often lead to temporary relief rallies before broader corrective patterns complete. This suggests a B-wave type advance is possible, followed by another corrective leg lower — provided price remains capped below resistance.

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🎯 Key Zones & Levels

• Major resistance:

  • 1.4834

• Near-term support:

  • Descending trendline (current holding zone)

• Corrective upside (contextual):

  • 1.4000–1.4200 zone

• Deeper corrective supports (if weakness expands):

  • 1.3450

  • 1.2600–1.2700

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📈 Expected Behaviour

• Immediate downside continuation is limited while price holds the trendline

• A counter-trend bounce is possible from current levels

• Any upside is expected to remain corrective unless acceptance occurs above 1.4834

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⚠️ Invalidation / Risk Levels

• Sustained acceptance above 1.4834 would invalidate the corrective bias

• A decisive break below the trendline + 1.3450 would indicate a larger corrective phase

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🧠 Conclusion

USDCAD is in a corrective pullback phase within a broader uptrend. With price holding at trendline support, immediate downside appears limited. A B-wave type bounce remains a reasonable possibility, followed by further corrective development — as long as the market remains capped below 1.4834.

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This analysis is based on market structure and price behaviour, not prediction.

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https://www.tradingview.com/chart/USDCAD/xXHOWRrN-USDCAD-Weekly-Structural-Update/

#USDCAD #ForexStructure #MarketStructure #ElliottWave #PriceAction #TechnicalAnalysis

EURUSD — Daily Structural Update

 Measured Move Achieved | Consolidation Above Support

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🔍 Overview

EURUSD has completed its minimum measured move, with price reaching the 100% extension at 1.1917. This satisfies the structural requirement of the prior advance. Price is now consolidating, forming a triangle-type pause within the broader bullish structure.

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🧩 Structure Position

• 100% target (1.1917): Achieved

• Price is holding above triangle support

• Consolidation appears corrective, not distributive

• No structural damage observed at this stage

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🌐 Market Context

After an impulsive advance, the market is transitioning into a pause-and-balance phase. Such behaviour typically reflects acceptance above prior breakout levels, rather than exhaustion. This keeps the higher-degree structure intact.

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🎯 Key Zones & Levels

• Upside extension (optional):

  • 123.6% → 1.2328 (possible, not mandatory)

• Structural support:

  • 61.8% → 1.1252

• Triangle support continues to act as a near-term holding zone

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📈 Expected Behaviour

• Holding above triangle support + 61.8% keeps the trend constructive

• Price may continue to coil before resolution

• Extension higher requires continuation behaviour, not just time-based drift

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⚠️ Invalidation / Risk Levels

• A decisive break below 1.1252 (61.8%) would signal:

  • Deeper corrective development

  • Temporary suspension of bullish continuation expectations

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🧠 Conclusion

The market has already fulfilled its minimum objective and is now consolidating in a structurally healthy manner. While a move toward 1.2328 remains possible, it is not a requirement. The bullish framework remains valid as long as price holds above 1.1252.

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This analysis is based purely on market structure and price behaviour, not prediction.

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https://www.tradingview.com/chart/EURUSD/rxDhDgYu-EURUSD-Daily-Structural-Update/

#EURUSD #ForexStructure #ElliottWave #MarketStructure #PriceAction #CorrectivePhase #TechnicalAnalysis

NSE – NIFTY 750 | Sun Pharmaceutical Industries Ltd | 04 Feb 2026

Overview

This post is part of the NIFTY 750 – Structure Census, a long-term structural review of all stocks within the NIFTY Total Market universe.
The objective is to document price structure behaviour using the earliest reliable data, without directional bias or trade intent.

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Structure Position

• Structure assessed from earliest reliable data (post-1999)

• A clear impulsive advance is visible from the early phase, followed by a major impulse into the mid-2010s

• A broad corrective phase unfolded thereafter, respecting long-term structural bounds

• Recent years show continuation within the established higher-degree structure

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Market Context

• The stock transitioned from an early accumulation phase into a multi-year impulse

• The correction phase appears structural rather than destructive

• No evidence of long-term structural damage observed

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Key Zones & Levels

• Long-term structure remains contained within a rising structural envelope

• Major historical reaction zones continue to define the broader range

• No breakout or breakdown conditions are inferred in this study

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Expected Behaviour

• Price is currently operating within a higher-degree structure

• Behaviour suggests continuation of structural development, not completion

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Continuation Triggers

• Sustained price action respecting the broader structure

• No violation of historical corrective boundaries

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Invalidation / Risk Levels

• Any decisive breakdown below long-term structural support would invalidate the current structural interpretation

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Conclusion

Sun Pharmaceutical Industries Ltd exhibits a well-defined long-term impulse–correction sequence, with price currently evolving inside a higher-degree structure.
This remains a structural reference, not a directional or timing call.

This is a structural update, not a directional call.

https://www.tradingview.com/chart/SUNPHARMA/JLSe2tLp-NSE-NIFTY-750-Sun-Pharmaceutical-Industries-04-Feb-2026/

#NIFTY750 #SunPharma #MarketStructure #EquityStructure #LongTermCharts #StructuralAnalysis #EWAVESJOURNAL

NSE – NIFTY 750 | Power Grid Corporation of India Ltd | 04 Feb 2026

 This is a structural update, not a directional call.

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🔎 Overview

As part of the NIFTY 750 – Structure Census, this post reviews the long-term price structure of Power Grid Corporation of India Ltd using the earliest reliable monthly data. The objective is to document structural behaviour, not to forecast or recommend.

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🧭 Structure Position

Price action shows a well-defined long-term rising channel, with multiple successful interactions along the lower boundary since the post-2009 regime shift.

The structure remains orderly, with corrections respecting the broader channel framework.

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🌍 Market Context

PowerGrid exhibits characteristics typical of infrastructure-led secular movers:

• Gradual accumulation phases

• Trend persistence over multiple cycles

• Volatility expansion only during regime transitions

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📐 Key Zones & Levels

• Primary structural support: Lower channel boundary (multi-year)

• Intermediate reaction zones: Prior consolidation shelves within the channel

• Upper reference: Channel resistance (contextual, not predictive)

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🔄 Expected Behaviour

• As long as price remains within the rising channel, structure remains intact

• Deviations outside the channel would signal a structural change, not merely a correction

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🚦 Invalidation / Risk Levels

• Sustained breakdown below the long-term channel would invalidate the current structural assessment

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🧾 Conclusion

PowerGrid continues to display a long-term rising channel structure, assessed purely from price behaviour. This post documents structure only and forms part of the broader NIFTY 750 Market Structure Census.

https://www.tradingview.com/chart/POWERGRID/Q2NzmjAV-NSE-NIFTY-750-Power-Grid-Corporation-04-Feb-2026/

#NIFTY750 #EquityStructure #MarketStructure #POWERGRID #IndianEquities #LongTermCharts #EWAVESJOURNAL