NIFTY PSE Index is still moving inside a large Wave (4) corrective structure. Breakout confirmation is needed to start Wave (5) impulsive rally.
Key Levels
🔹 Immediate Resistance: 10,321
🔹 Major Breakout Zone: 10,670 – 11,289
➡️ Wave (5) confirmation only above 11,289
🔹 Immediate Support: 9,577
🔹 Major Supports: 9,167 / 8,730
🔹 Wave (4) Low: 8,125
❗ Invalidation below: 7,956
Wave Structure
(3) Completed
(4) Ongoing corrective wave (or alt(4) base already formed)
📌 Consolidation expected before a breakout
Targets for Wave (5)
🎯 12,877 / 13,270 / 14,444
🚀 Extended target zone: 18,800 – 19,234
Trading View
📈 Bullish view only above 10,670
🔓 Strong confirmation above 11,289, then move toward Wave (5) targets
📉 Break below 9,577 may test 8,730 – 8,125
Trading Plan
✔ Buy on breakout above 10,670
🎯 Targets: 11,289 / 12,877 / 13,270 / 14,444
🛑 SL: Below 9,577 (short term) or 8,730 (positional)
Summary
⏳ Sideways range continues inside corrective wave (4)
📌 Patience required—momentum will return with breakout
🚀 Wave (5) rally could be strong when triggered
💬 Chart is shared for educational wave-structure discussion. Trade with risk control.
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https://in.tradingview.com/chart/CNXPSE/pg8XocD8-NIFTY-PSE-INDEX-Elliott-Wave-Analysis-1D/
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