Star Cement — The Quiet Phase Before the Next Big Move?📉 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 ⚠️.
