Price is currently reacting inside the support zone and may be completing Wave (ii) within Wave 3. As long as the support region holds, bullish continuation toward Wave (iii) and beyond remains valid.
Key Support Zone
🔹 25,855 – 25,713
🔹 Major support / invalidation: 25,313
Bullish Wave Structure
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Wave 1 completed, Wave 2 bottomed at 25,313
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Current decline is likely forming Wave (ii) pullback
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Expected rise into Wave (iii) once support holds
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Target zone for Wave iii = 27,050 – 27,500
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Wave 3 larger target = 27,821 – 28,255 / 28,434 / 28,834
Trading Plan
📌 Bullish above 25,855 – buy on dips
🎯 Targets: 26,377 → 26,755 → 27,050 → 27,500 → 27,821+
🛑 Invalidation only below: 25,713 / major invalidation 25,313
Market Sentiment
⭐ Strong upward channel still intact
⭐ Wave 3 expected to be strongest trending move
⭐ Risk/Reward highly favorable near support
Bias
Bullish as long as price stays above 25,855–25,713 zone
Disclaimer
Educational Elliott Wave study. Not investment advice.
https://in.tradingview.com/chart/NIFTY/Q9T2qi5p-NIFTY-Elliott-Wave-Analysis-1H-03-DEC-2025/
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