Compression → Expansion Setup on a Fundamentally Resilient Waste Management Play

Technical + Fundamental Confluence Analysis 🔹 Elliott Wave Structure The sharp rally into mid-2024 marked a clear impulsive Wave (1). What followed is a textbook corrective phase — a contracting structure with lower highs and a well-defined horizontal base near ₹420–₹440. This corrective move fits a Wave (2) / complex ABC correction, where price corrects in time more than price. The recent bounce from the base indicates the stock is attempting to transition into early Wave (3), which typically unfolds with strong trend expansion once resistance is cleared. 🔹 Momentum & MACD Behaviour Despite price making lower highs during the correction, momentum has not deteriorated proportionally, suggesting bullish momentum divergence. This loss of downside momentum during a prolonged correction often signals seller exhaustion and sets the stage for a directional move upward. 🔹 AVWAP Value Zone Insight Price has repeatedly defended the AVWAP from the major breakout zone, indicating strong demand near value. Each dip into this AVWAP-supported region has attracted buying interest, confirming it as a high-conviction accumulation area. Sustained acceptance above this value zone keeps the bullish bias intact. 🔹 Structure & Resistance Context The descending trendline represents supply compression rather than distribution. As price coils between falling resistance and flat support, energy builds up. A decisive move above this declining supply line would signal trend resumption, not just a short-term bounce. 🔹 Fundamental Strength Overlay Antony Waste Handling Cell operates in a structurally growing sector with: Long-term municipal contracts Predictable cash flows Asset-heavy, entry-barrier-driven business model Such businesses often see delayed price reactions, but once momentum aligns, trends tend to persist.