📈 S&P BSE Sensex (India) Elliott Wave Technical Analysis 📊

🔹 Current Market Structure:

✔ Function: Counter-Trend

✔ Mode: Corrective

✔ Structure: Orange Wave 4

✔ Position: Navy Blue Wave 1

✔ Next Higher Degree Direction: Orange Wave 5

🔹 Key Observations:

✅ Gray Wave C Completion: Crucial for confirming the transition to Orange Wave 5.

✅ Orange Wave 4 Nearing Completion: A shift back to bullish momentum is expected.

✅ Market Consolidation: Traders should closely monitor corrective movements for insights.

✅ Emerging Bullish Phase: Orange Wave 5 is anticipated to drive an upward trend.

🔹 Trading Implications:

📌 Monitoring the end of Orange Wave 4 is essential to identify a major market turning point.

📌 The transition to Orange Wave 5 may provide new trading opportunities in an upward trend.

📌 Elliott Wave structure insights can help traders navigate the current pullback and prepare for potential bullish momentum.

🔹 Conclusion:

📢 The S&P BSE Sensex is in a corrective counter-trend phase, with Orange Wave 4 nearing completion. As the market transitions into Orange Wave 5, traders should stay vigilant for emerging bullish opportunities