Wave Structure Identified:
🖤 Primary Wave: Black numbers – currently unfolding Wave (2) correction.
🔵 Intermediate Wave: Blue numbers – Intermediate (1) was an extended leading diagonal.
🔴 Minor Wave: Red numbers – used within the diagonal of Intermediate (1).
Current Zone = Correction Opportunity:
This is Primary Wave (2) correction.
Price is in a value accumulation zone between 50 & 200 EMA on the Weekly chart.
Ideal accumulation above ₹60 for long-term investors.
Buy Zone and Risk Management:
Best to accumulate above ₹60.
Important support at ₹53.16 – acts as a stop-loss or invalidation level.
Volume and MA structure suggest stability in this range.
Target Projections (Fibonacci levels from Wave 1):
0.382: ₹93
0.5: ₹105
0.618: ₹116
1.0: ₹154
1.618: ₹215
Investor Tip:
This is the 2nd correction zone – often a golden opportunity to accumulate before Wave (3).
Summary:
IMAGICAAWORLD is currently in Primary Wave (2) correction after completing an extended Intermediate Wave (1) in a leading diagonal pattern. The stock is trading in a value zone between the 50 and 200 weekly moving averages — a key area for smart accumulation. Holding above ₹60 keeps the bullish structure valid, with support around ₹53. The next potential targets lie between ₹93 and ₹215 based on Fibonacci projections. This second correction phase offers a strong long-term opportunity for investors willing to study both technical and fundamental aspects.
Do your due diligence – study fundamentals alongside the chart for conviction.
🖤 Primary Wave: Black numbers – currently unfolding Wave (2) correction.
🔵 Intermediate Wave: Blue numbers – Intermediate (1) was an extended leading diagonal.
🔴 Minor Wave: Red numbers – used within the diagonal of Intermediate (1).
Current Zone = Correction Opportunity:
This is Primary Wave (2) correction.
Price is in a value accumulation zone between 50 & 200 EMA on the Weekly chart.
Ideal accumulation above ₹60 for long-term investors.
Buy Zone and Risk Management:
Best to accumulate above ₹60.
Important support at ₹53.16 – acts as a stop-loss or invalidation level.
Volume and MA structure suggest stability in this range.
Target Projections (Fibonacci levels from Wave 1):
0.382: ₹93
0.5: ₹105
0.618: ₹116
1.0: ₹154
1.618: ₹215
Investor Tip:
This is the 2nd correction zone – often a golden opportunity to accumulate before Wave (3).
Summary:
IMAGICAAWORLD is currently in Primary Wave (2) correction after completing an extended Intermediate Wave (1) in a leading diagonal pattern. The stock is trading in a value zone between the 50 and 200 weekly moving averages — a key area for smart accumulation. Holding above ₹60 keeps the bullish structure valid, with support around ₹53. The next potential targets lie between ₹93 and ₹215 based on Fibonacci projections. This second correction phase offers a strong long-term opportunity for investors willing to study both technical and fundamental aspects.
Do your due diligence – study fundamentals alongside the chart for conviction.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.