Wave 2 Complete? Multi-Trigger Setup in a Strong Compounder!

📊 Technical Analysis: TEGA Industries is showing a textbook Elliott Wave structure, indicating the completion of Wave 2 and the potential beginning of an impulsive Wave 3 rally. Elliott Wave Count: Wave 1 appears to have peaked near ₹2,400, followed by a deep correction forming Wave 2 down to around ₹1,200 — aligning perfectly with the long-term AVWAP support zone. The recent bullish breakout suggests the initiation of Wave 3, which is typically the strongest and most extended in the cycle. AVWAP Support: The AVWAP from the post-IPO base continues to act as a powerful dynamic support. Price has respected this level during the entire correction phase, and the bounce from near ₹1,200 adds further strength to the reversal signal. MACD Divergence: A bullish divergence is visible on the MACD indicator. While the price made a marginally lower low during the end of Wave 2, MACD maintained a higher low, suggesting a momentum reversal in progress. 🏢 Fundamental Strength: High ROCE & ROE: TEGA boasts impressive return ratios, pointing to efficient capital utilization and high-quality business operations. Strong Revenue & Profit CAGR: The company has delivered consistent double-digit growth in both revenue and PAT over the past few years. Scalable Business Model: Operating in a niche with global clientele and expanding market share, TEGA is positioned for long-term compounding. Debt-Free Balance Sheet: Clean financials with minimal leverage, reducing risk and improving resilience during downturns. 🔍 Conclusion: The confluence of: Completed Wave 2 structure, AVWAP support hold, MACD bullish divergence, and Strong fundamental backing suggests TEGA Industries may be entering a new impulsive uptrend. With Wave 3 often extending 1.618x or more of Wave 1, the long-term target projection exceeds ₹3,500, making this a high-probability opportunity for swing or position traders.