🟢 Multi-Year Range Breakout — Omax Auto Entering High Momentum Expansion Phase!

📊 Technical + Structural Analysis Omax Auto has delivered a decisive breakout from a long-term consolidation range, indicating the start of a powerful trend expansion: 🌊 Elliott Wave Perspective The prolonged sideways structure (₹80–₹160 zone) appears to be a Wave 4 accumulation phase on a higher timeframe. The recent strong breakout candle signals the beginning of a Wave 5 impulsive move. Given the base formation duration, this Wave 5 has the potential to extend toward ₹230–₹250+. 📉 MACD Insight Momentum has sharply turned bullish after a long period of compression. Likely strong bullish crossover with expanding histogram, confirming trend initiation. No visible divergence — indicating fresh momentum, not exhaustion. 📍 AVWAP Confluence The ₹155–₹160 zone acted as a strong AVWAP resistance across multiple attempts. Clean breakout above this level confirms change of polarity (resistance → support). This zone now becomes a high-conviction accumulation area on dips. 🧠 Price Action Context Breakout from multi-year range = high significance Strong bullish candle with volume = institutional participation Minimal overhead resistance = open price discovery zone 📈 Fundamental Snapshot Strong presence in auto components manufacturing Beneficiary of auto sector recovery and EV ecosystem growth Improving demand visibility with cyclical tailwinds Potential margin expansion with operating leverage ⚖️ Conclusion Short-term: Bullish continuation above ₹160 Medium-term: Strong trend expansion underway Upside potential: ₹230–₹250+ Key support: ₹155–₹160 zone 👉 This is a high-impact breakout setup — multi-year base + momentum = potential for outsized returns.