🔹 Structure Shift (Elliott Perspective) Prolonged impulsive decline from ₹390 → ₹245 (5-wave bearish structure complete). Sideways rectangular accumulation between ₹245–295 (Phase B accumulation). Strong expansion candle breaking ₹293 supply zone. This looks like: Completion of corrective structure. Beginning of new impulsive leg (Wave 1 of larger degree). If this is true Wave 1: ✔ Pullbacks should be shallow ✔ ₹275–280 should act as demand ✔ No sustained close back inside range 🔹 Rectangle Breakout Logic Range Height: ₹295 – ₹245 = ₹50 Measured Move: ₹295 + ₹50 = ₹345 Your projection near ₹350 aligns perfectly with classical breakout math. 🔹 Momentum Character What stands out: Strong wide-range bullish candle Break above multi-month resistance Volume expansion (visible surge vs base average) Close near day’s high This is expansion behavior, not short covering only. 🔹 Key Technical Levels Immediate Support: ₹293–295 (old resistance → new support) Secondary Support: ₹275 Structure Failure: Sustained close below ₹260 As long as ₹293 holds on pullbacks → bullish bias intact. 🔹 Elliott Scenario Map Bullish Case: Wave 1: ₹245 → ₹295 Wave 2 pullback: ₹275–280 Wave 3 expansion: ₹330–350 Bearish Case: False breakout → back inside ₹245–295 range. Current probability favors bullish continuation.

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