Gokaldas Exports: Long-Term AVWAP Test → Make-or-Break Zone 🔍

Big Picture Structure: Gokaldas delivered a massive multi-year impulsive rally from 2020 to 2024, clearly a strong primary uptrend. However, after peaking near the ₹1,100–1,200 zone, price entered a sharp corrective phase, wiping out momentum quickly — a classic post-euphoria cleanup. Elliott Wave Context: The entire rally from 2020 lows appears to be a complete 5-wave impulsive structure. 👉 The ongoing fall fits well with a higher-degree corrective Wave A–B–C, where: Wave A: Sharp fall from the top Wave B: Volatile retracement and distribution Wave C: Now testing long-term value Importantly, Wave C often terminates near long-term VWAP / AVWAP zones. AVWAP (From 2020 Lows): This is the most powerful signal on the chart. Price is now exactly at the AVWAP drawn from 2020 accumulation levels (~₹520–540). 📌 This represents: Institutional cost basis Fair value of the entire bull cycle A zone where strong hands typically re-enter if the trend is to survive Price Behaviour & Momentum (MACD Lens): Momentum clearly peaked well before price highs, suggesting bearish divergence on higher timeframes. The current strong green candle after a deep fall hints at early stabilization, but confirmation is still pending.