Titagarh Rail Systems weekly chart

📊 Technical Breakdown Elliott Wave Count: Wave 3: Strong impulsive rally in late 2023. Wave 4: Shallow correction into early 2024. Wave 5: Climactic rally into mid-2024, marking the top. Post-Wave Correction: Since the Wave 5 peak, price has been in a downtrend, respecting the 200 EMA (~₹727.38) as dynamic support. Currently, the price is testing that long-term EMA once again. Major Support: Horizontal long-term support sits far lower (~₹187.40), so breaking the EMA could trigger a larger correction. Bullish case: Holding the 200 EMA could mean a base-building phase before a new impulsive cycle. Bearish case: A breakdown below ₹727 could open the way to ₹600 or even lower retracement levels.