IMAGICAAWORLD LTD – Elliott Wave Analysis (Weekly Chart)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.
