TCS appears to have completed a textbook Zigzag correction (A-B-C) ending at ₹3056.05 — right at the long-term trendline support that has held since 2020.
From this base, the structure is now forming a clean impulsive sequence:
Supporting evidence:
Invalidation:
Break below ₹3056.05 would invalidate this count and suggest a larger correction.
Tools Used: Elliott Wave, Fibonacci, RSI
Timeframe: Daily
Weekly timeframe view attached below for broader context:
This is a technical analysis for educational purposes only and not financial advice.
Part of the ongoing #WaveTracker series.
Documenting Elliott Wave progression across major stocks.
From this base, the structure is now forming a clean impulsive sequence:
- Wave 1 topped at ₹3630.50
- Wave 2 retraced to ₹3451.30, holding between 0.236–0.382 retracement zones
- The current rally may be the start of Wave 3, with fib projections targeting the ₹4025–4380 zone
Supporting evidence:
- Strong RSI bullish divergence at the March low
- Breakout above ₹3630.50 would confirm Wave 3 ignition
Invalidation:
Break below ₹3056.05 would invalidate this count and suggest a larger correction.
Tools Used: Elliott Wave, Fibonacci, RSI
Timeframe: Daily
Weekly timeframe view attached below for broader context:
This is a technical analysis for educational purposes only and not financial advice.
Part of the ongoing #WaveTracker series.
Documenting Elliott Wave progression across major stocks.
Note
Structure still intact. As long as 3056.05 holds, upside potential in-terms of Wave 3 still holds true. 
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.