📉 Star Cement — Primary Wave-4 & Wave-5 Context (Elliott Wave Study)
This post is an educational Elliott Wave structure study 📚 based on the current weekly and daily chart of Star Cement.
Star Cement completed a strong multi-year advance 🚀 from the 2022 lows, peaking near the ₹308–310 region. This advance shows classic characteristics of a Primary Wave-3, including strong momentum, broad participation, and a terminal phase near the highs.
After the peak, price behaviour shifted from trending to overlapping and corrective, suggesting the market has transitioned into a Primary Wave-4 phase. Among the common corrective patterns, a Flat (A-B-C) structure currently best explains the price action.
Within this interpretation, Wave A declined from ~₹308 to ~₹245 and showed overlapping characteristics rather than a clean impulse. Wave B retraced weakly toward ~₹270 and lacked impulsive strength, which is typical behaviour within flat corrections. Wave C is currently unfolding with overlapping internal swings and reduced momentum, supporting the view that this is a corrective decline rather than the start of a new impulsive downtrend.
From a structural and Fibonacci perspective 📐, the chart highlights a broader confluence area between ₹195 and ₹205, corresponding to the 0.618 retracement of the entire Primary Wave-3 and the 1.272 extension of Wave A. An extended confluence area is also visible around ₹185–190, near the 0.786 retracement of Primary Wave-3. These zones are presented purely as areas of analytical interest where flat corrections often mature, not as signals.
In educational terms 🎓, a Flat-C phase typically ends quietly rather than dramatically. Behaviour consistent with a maturing correction would include price stabilising within the ₹185–205 zone, smaller and overlapping candles, failed breakdown attempts with quick recoveries, and the emergence of a clean directional move away from the zone. In contrast, continuation of the correction would be suggested by impulsive downside expansion below ~₹185, increasing range and volume on declines, and weak rebounds that remain capped below prior resistance zones.
The projected Primary Wave-5 🔵 (shown in blue on the chart) is included strictly for higher-degree context. Wave-5 scenarios are only studied after Wave-4 has fully resolved and the structure transitions from corrective to impulsive. Historically, Primary Wave-5 advances tend to be more selective, often shorter than Wave-3, and occur only after prolonged consolidation or correction. The Fibonacci extension zones associated with Wave-5 are theoretical reference levels that illustrate how analysts frame potential future paths, not expectations.
At this stage, Star Cement remains in a Primary Wave-4 corrective environment. The focus is on observing structure, momentum, and confirmation rather than anticipating outcomes 🧠. Higher-degree trend continuation can only be discussed after the correction completes and the market clearly proves a change in behaviour.
📉 Star Cement — Blue Wave-4 on Daily Timeframe (Elliott Study)
After the advance into the ₹308–310 zone 🚀, price behaviour shifted from trending to overlapping and corrective, marking the development of blue Wave-4 on the daily chart. This phase is characterised by segmented declines, frequent counter-trend bounces, and fading momentum, rather than impulsive selling.
Blue Wave-4 is interacting with a key ₹195–205 confluence zone 📐, with a deeper reference near ₹185–190, areas where corrective waves often stabilise. Wave-4 corrections typically resolve quietly through time and overlap ⏳, not sharp reversals.
This study is shared strictly for educational and analytical discussion and does not constitute investment advice ⚠️.
This post is an educational Elliott Wave structure study 📚 based on the current weekly and daily chart of Star Cement.
Star Cement completed a strong multi-year advance 🚀 from the 2022 lows, peaking near the ₹308–310 region. This advance shows classic characteristics of a Primary Wave-3, including strong momentum, broad participation, and a terminal phase near the highs.
After the peak, price behaviour shifted from trending to overlapping and corrective, suggesting the market has transitioned into a Primary Wave-4 phase. Among the common corrective patterns, a Flat (A-B-C) structure currently best explains the price action.
Within this interpretation, Wave A declined from ~₹308 to ~₹245 and showed overlapping characteristics rather than a clean impulse. Wave B retraced weakly toward ~₹270 and lacked impulsive strength, which is typical behaviour within flat corrections. Wave C is currently unfolding with overlapping internal swings and reduced momentum, supporting the view that this is a corrective decline rather than the start of a new impulsive downtrend.
From a structural and Fibonacci perspective 📐, the chart highlights a broader confluence area between ₹195 and ₹205, corresponding to the 0.618 retracement of the entire Primary Wave-3 and the 1.272 extension of Wave A. An extended confluence area is also visible around ₹185–190, near the 0.786 retracement of Primary Wave-3. These zones are presented purely as areas of analytical interest where flat corrections often mature, not as signals.
In educational terms 🎓, a Flat-C phase typically ends quietly rather than dramatically. Behaviour consistent with a maturing correction would include price stabilising within the ₹185–205 zone, smaller and overlapping candles, failed breakdown attempts with quick recoveries, and the emergence of a clean directional move away from the zone. In contrast, continuation of the correction would be suggested by impulsive downside expansion below ~₹185, increasing range and volume on declines, and weak rebounds that remain capped below prior resistance zones.
The projected Primary Wave-5 🔵 (shown in blue on the chart) is included strictly for higher-degree context. Wave-5 scenarios are only studied after Wave-4 has fully resolved and the structure transitions from corrective to impulsive. Historically, Primary Wave-5 advances tend to be more selective, often shorter than Wave-3, and occur only after prolonged consolidation or correction. The Fibonacci extension zones associated with Wave-5 are theoretical reference levels that illustrate how analysts frame potential future paths, not expectations.
At this stage, Star Cement remains in a Primary Wave-4 corrective environment. The focus is on observing structure, momentum, and confirmation rather than anticipating outcomes 🧠. Higher-degree trend continuation can only be discussed after the correction completes and the market clearly proves a change in behaviour.
📉 Star Cement — Blue Wave-4 on Daily Timeframe (Elliott Study)
After the advance into the ₹308–310 zone 🚀, price behaviour shifted from trending to overlapping and corrective, marking the development of blue Wave-4 on the daily chart. This phase is characterised by segmented declines, frequent counter-trend bounces, and fading momentum, rather than impulsive selling.
Blue Wave-4 is interacting with a key ₹195–205 confluence zone 📐, with a deeper reference near ₹185–190, areas where corrective waves often stabilise. Wave-4 corrections typically resolve quietly through time and overlap ⏳, not sharp reversals.
This study is shared strictly for educational and analytical discussion and does not constitute investment advice ⚠️.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.