Elliott Wave count on L&T Finance (Weekly Chart) is structurally correct

✅ Wave Validity Check Rule Status Wave 2 did not retrace below start of Wave 1 ✔ Valid Wave 3 is longer than Wave 1 ✔ Valid (strong impulsive structure with volume confirmation) Wave 4 projection does not overlap Wave 1 territory ✔ Likely (if pullback holds above 235–245 zone) Wave 5 expected after corrective Wave 4 ✔ Pattern setup intact So structurally, this wave count is valid and high probability. 📍 Zone Mapping Based on Wave Theory Wave 3 Completion Zone Approx: ₹300–₹320 The last candles show: Smaller body candles (exhaustion) Volume tapering Slight shooting star wick formation → This behaviour is typical during end of Wave 3 or internal wave 5 of 3. 📌 Expected Wave 4 Retracement Zone Typical retracements for Wave 4: Fibonacci Level Price Zone 23.6% ₹282 38.2% ₹258 50% ₹235 (Max acceptable before wave count invalidation region) Wave 4 is often: Sideways Slow Respecting previous consolidation Ideal correction zone: ➡️ ₹255–₹275 If price simply consolidates sideways around ₹285–310 without breaking down, that still counts as Wave 4 (Flat or running correction). 🎯 Wave 5 Projection Wave 5 most commonly equals: Method Projection Wave 1 length added to Wave 4 bottom ₹405–₹430 1.618 extension of Wave 1 ₹445–₹470 Channel projection ₹415–₹440 So your projected target around ₹420–₹450 is perfectly aligned. 🧠 Behaviour Expectation During Wave 4: RSI will cool off from 70+ toward 45–55 zone. Volume decreases. Price may form a bullish flag, triangle, or cup-handle mini structure.