Timeframe: 3H | Structure: Impulse (1-2-3-4-5)
Wave 4 has likely bottomed, and SENSEX is slowly grinding upward from the demand zone. The structure continues to respect the rising parallel channel — a strong sign that Wave 5 is active.
🔍 Key Observations
🟦 1. Wave Count Update
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Wave (4) completed inside the lower channel support.
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Wave (5) of 3 already finished at the previous high zone.
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Current move is expected to be Wave (5) of the larger degree, aiming for new ATH.
🟩 2. Major Supports
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82,960 – Strong structural support
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82,255 – Wave 4 invalidation zone
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81,625 – Deep pullback but still bullish if held
As long as 81,625 holds, the bullish count remains intact.
🟦 3. Immediate Upside Levels
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86,160 – 86,955 → First reaction zone
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88,088 – 89,055 → Wave 3 extension pocket
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90,355 → Key breakout level
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92,455 – 92,970 → Larger degree Wave (3)/(5) zone
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94,555 → Final SENSEX target for this impulse
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100,800 → Extreme Fibonacci extension (long-term only)
🧭 4. Momentum Check
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RSI trending upward from oversold region.
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No bearish divergence at the moment.
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Favoring continuation toward upper supply zones.
🎯 My Final View (Straightforward & Simple)
If 82,255–82,960 continues to hold, I expect:
👉 Wave 5 → 86,955
👉 Then push toward 89,055 – 90,355
👉 Final projection: 92,970 → 94,555
Structure stays bullish unless 81,625 breaks.
⚠️ Disclaimer
This is purely educational Elliott Wave analysis, not a buy/sell signal. Markets carry risk — please trade with your own research, risk management, and financial advice.
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