Analysis:
Shipping Corp of India appears to have completed a classic Elliott Wave 1–2–3–4 structure, with Wave 5 potentially underway.
✅ Wave 3 shows strong momentum, and
✅ Wave 4 found support near the 0.618–0.786 retracement zone – a healthy corrective pullback.
✅ RSI is rising from the 40 zone and now sits near 60, indicating growing strength without being overbought.
✅ Price structure remains intact – Wave 4 didn’t overlap with Wave 1, preserving the impulse validity.
🎯 Potential Target for Wave 5:
1.0 ext: ₹238
Extended move could stretch to ₹280–₹300+ if volume and momentum sustain.
Support Zones:
₹174 (previous breakout zone)
₹151–133 (Fibo clusters)
Watchlist Note: A breakout above ₹240 with volume could confirm the start of Wave 5. Keep an eye on price action and RSI divergence during this rally.
Shipping Corp of India appears to have completed a classic Elliott Wave 1–2–3–4 structure, with Wave 5 potentially underway.
✅ Wave 3 shows strong momentum, and
✅ Wave 4 found support near the 0.618–0.786 retracement zone – a healthy corrective pullback.
✅ RSI is rising from the 40 zone and now sits near 60, indicating growing strength without being overbought.
✅ Price structure remains intact – Wave 4 didn’t overlap with Wave 1, preserving the impulse validity.
🎯 Potential Target for Wave 5:
1.0 ext: ₹238
Extended move could stretch to ₹280–₹300+ if volume and momentum sustain.
Support Zones:
₹174 (previous breakout zone)
₹151–133 (Fibo clusters)
Watchlist Note: A breakout above ₹240 with volume could confirm the start of Wave 5. Keep an eye on price action and RSI divergence during this rally.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.