🚗 Gabriel India – Elliott Wave in Action, Eyeing Wave 5 Expansion

🔎 Technical Structure Elliott Wave Count: Wave 3 peak achieved around ₹1,290–1,320 after an impulsive rally. Stock now entering a Wave 4 corrective phase, which may retrace towards the ₹1,000–₹1,050 zone (Fibonacci retracement cluster). Wave 5 projection targets around ₹1,700–₹1,800 (2.618 Fib extension). Fibonacci Levels: Support cluster: ₹1,050 (0.382–0.5 retracement). Resistance: ₹1,320 (Wave 3 top), followed by ₹1,777. MACD Setup: Early signs of bearish crossover, aligning with Wave 4 correction. AVWAP Reference: Anchored VWAP from Wave 2 low sits near ₹916, which will serve as a long-term demand zone if correction deepens. 🏦 Fundamental Backing Auto Ancillary Leadership: Gabriel is a key supplier of suspension systems with long-standing partnerships with top OEMs. Revenue Drivers: Strong demand in passenger vehicles and 2-wheelers; EV adoption offers future opportunities. Profitability: Expanding margins due to cost optimization and scale advantages. ROCE & Debt: Healthy ROCE above industry average with a comfortable debt profile. 📈 Summary Gabriel India has completed Wave 3 and is set for a healthy Wave 4 correction before resuming its Wave 5 rally towards ₹1,700–₹1,800. Short-term volatility is likely, but the long-term structure remains strongly bullish. Investors should watch the ₹1,000–₹1,050 support zone as an accumulation area for the next leg of growth.