The GRASIM INDUSTRIES daily chart shows a strong trending move forming through an impulsive Elliott Wave pattern. After completing the navy blue wave 2 correction, the stock has now entered navy blue wave 3 within the larger gray wave 1 structure. This shift suggests the beginning of the most dynamic phase of the uptrend, typically showing extended gains and strong momentum.

Navy blue wave 3 is often the core of Elliott Wave patterns, bringing the most aggressive price movements in the trend’s direction. Completing wave 2’s correction has set the stage for this powerful wave 3. The structure now indicates that the stock will likely maintain strong upward momentum before meeting the next correction.

A critical level to monitor is 2463. If prices fall below this support, the current bullish wave interpretation would be invalid, requiring a reassessment. This level protects the low of wave 2 and is vital for sustaining the bullish setup.

The daily timeframe gives a broad view of the building wave structure. The current impulse wave suggests strong upside potential. Traders should look for typical wave 3 behaviors, such as solid momentum and consistent upward progression, while respecting the invalidation level at 2463.

The next expected move is navy blue wave 4, following the completion of navy blue wave 3. This corrective phase should offer a pullback opportunity before any new continuation of the bullish trend. The current stage remains highly favorable for trend-following strategies as wave 3 often delivers the best trading conditions within Elliott sequences.

Technical indicators and price patterns will be essential for confirming the development of the wave structure. As the market transitions through gray wave 1 at the higher degree, it indicates potential for extended bullish momentum ahead. Traders should monitor volume trends and momentum indicators closely for added confirmation.

Grasim Industries – Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Gray Wave 1.

Position: Orange Wave 5.

Direction next higher degrees: Gray Wave 1 (Started).

Details: Orange wave 4 appears completed. Now gray wave 1 of 5 is in development.

The GRASIM INDUSTRIES weekly chart analysis shows a bullish trend nearing its final stages through an impulsive Elliott Wave structure. After finishing the orange wave 4 correction, the stock has moved into gray wave 1 within the broader orange wave 5 pattern. This shift signals the start of what could be the final upward drive in the current bullish sequence before a potential major correction.

Gray wave 1 typically begins the last upward push, with momentum gradually building as the market moves toward the trend’s peak. Completion of orange wave 4 sets the foundation for gray wave 1, which often results in significant price advances before the trend exhausts.

The weekly timeframe gives a critical view of this emerging structure. Entering orange wave 5 at a higher degree points to a nearing end of the bullish cycle.
Traders should observe gray wave 1 for usual signs, such as steady price gains and rising volume, confirming the trend's continuation.

The analysis suggests maintaining bullish exposure during this impulsive wave but being cautious of increasing volatility as the pattern matures. Monitoring technical indicators and price action will help validate the structure's progress. Watch for termination signals like momentum divergence to anticipate the wave’s end.

This stage represents an important chance to engage with the market as it likely moves through the last part of its current bullish phase. Careful observation will be essential to identify the transition into the next major cycle.

The weekly view stresses the importance of this development for intermediate-term trading strategies.

Grasim Industries– GRASIM Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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