📊 Wave 3 Awakening? TEGA Industries at a Technical & Fundamental Sweet Spot!

🌀 Elliott Wave View (Weekly Timeframe) TEGA appears to have completed a clean Wave 1 impulse followed by a deep Wave 2 correction. The recent bounce hints at the start of a potential Wave 3 — historically the strongest wave in the Elliott cycle. 🧠 Technical Triggers ✅ Price reversed near the 200-week EMA and key volume-weighted average price (AVWAP) from major breakout zones. ✅ Strong bullish weekly candles with increasing volume signal institutional support. ✅ Base formation around ₹1,400-₹1,450 looks solid; breakout above ₹1,600 can confirm trend continuation. 📈 Fundamental Tailwinds 🌱 Asset-light business model with high scalability. 💹 Strong export-driven revenue, improving operating margins YoY. 📦 Global capex cycle in mining and material handling supports long-term demand. 🧮 Healthy ROCE and low debt, indicating efficient capital allocation and robust balance sheet. 📌 If Wave 3 unfolds as projected, long-term targets above ₹3,000 are technically justified.