Hitachi Energy India Limited (Weekly Chart)

📦 Multi-Month Accumulation Completed You’ve marked a clear rectangle: Range: ₹16,200 – ₹21,970 Duration: ~6–7 months That’s classic institutional accumulation. Now: ✔ Strong breakout above ₹21,970 ✔ Wide bullish weekly candle ✔ Momentum expansion ✔ No overhead supply This is a high-quality breakout. 📐 Measured Move Projection Range height ≈ ₹5,750 Add to breakout level: ₹21,970 + ₹5,750 = 🎯 ₹27,700–₹28,000 Your 26% projection aligns perfectly. Measured move logic supports 27.5k–28k zone. 🌊 Elliott Wave Structure Probable count: Wave (1): ₹13k → ₹22k Wave (2): Sideways rectangle correction Wave (3): Just beginning If this is Wave 3: Upside can extend beyond measured move. Wave 3 typically strongest leg. 📊 Momentum & Structure • Higher low formed at ₹16k • Strong impulsive rally off bottom • Breakout on weekly timeframe = high reliability • No major resistance till ₹27k Weekly breakout > daily breakout in strength. 🧠 What To Watch Healthy behavior would be: Retest of ₹21,970–₹22,200 zone Followed by continuation higher If price sustains above ₹22k, structure remains bullish. Invalidation: Weekly close back inside rectangle. 🎯 Levels Support: ₹22,000 ₹20,500 Targets: ₹25,500 ₹27,700 ₹30,000 (extension) 📊 Broader Theme Power & transmission theme strong in India: • Capex cycle • Grid modernization • Renewable integration Stocks in this theme are seeing structural re-rating. 📌 Professional Take This is not a short setup. This is a positional breakout. Pullbacks likely buying opportunities.