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Asian Paint Elliott Wave technical analysis
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Function: Counter Trend.
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Mode: Corrective.
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Structure: Orange Wave 4.
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Position: Navy Blue Wave 3.
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Direction (next lower degrees): Orange Wave 5.
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Details: Orange Wave 3 appears complete; Orange Wave 4 is now active.
Daily chart overview
The Elliott Wave analysis for ASIAN PAINT’s daily chart outlines a counter-trend outlook, identifying a corrective phase in progress. The focus is on Orange Wave 4, forming part of the broader Navy Blue Wave 3 in the wave sequence. With the impulsive movement of Orange Wave 3 now concluded, the stock is transitioning into a temporary corrective phase under Orange Wave 4.
Wave structure insight
This counter-trend development indicates a brief pause in the dominant market direction before resuming its trend. The daily timeframe offers clarity into this evolving structure, supporting better decision-making based on the current market stage. Once the Orange Wave 4 correction completes, the stock is expected to begin Orange Wave 5, resuming its previous upward momentum.
Technical note
The analysis highlights the relationship between wave degrees, positioning Orange Wave 4 as both a short-term opportunity and a structural element within Navy Blue Wave 3. Traders should observe typical corrective characteristics such as three-wave patterns or sideways consolidations during this phase.
Conclusion
Traders are advised to wait for confirmation of corrective wave completion before anticipating a significant move in ASIAN PAINT shares. The current pullback phase may offer opportunities for both short-term trades and long-term entries aligned with the larger trend direction.
ASIAN PAINT Elliott Wave Technical Analysis
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Function: Counter Trend.
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Mode: Impulsive.
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Structure: Navy Blue Wave 3.
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Position: Gray Wave C of 4.
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Direction (next higher degrees): Navy Blue Wave 4.
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Details: Navy Blue Wave 3 appears complete; it is currently unfolding further.
Weekly chart overview
The Elliott Wave analysis for ASIAN PAINT’s weekly chart outlines a counter-trend setup with a potentially bullish outlook. The central focus is on Navy Blue Wave 3, which is developing within the broader Gray Wave C of Orange Wave 4 structure. With Navy Blue Wave 3 having likely completed its previous segment, the stock appears to be continuing within the same wave count, indicating a complex corrective phase.
Wave structure insight
The weekly timeframe offers a broader perspective, showing Navy Blue Wave 3 evolving within Gray Wave C. This counter-trend phase displays impulsive characteristics, which are occasionally found in Wave C positions during corrections. Upon completing the current structure, the stock is expected to move into Navy Blue Wave 4—a corrective phase that may precede continued trend progression.
Technical note
This analysis highlights the intricate relationships between different wave degrees. Navy Blue Wave 3 plays a dual role—both as an immediate pattern to watch and as a segment within a larger correction. Investors should monitor for completion signals of the current wave, which may provide clues for the next significant move in ASIAN PAINT shares.
Conclusion
The weekly chart provides useful insights for position traders, offering clarity on short-term trade setups and long-term trend alignment. ASIAN PAINT is likely in a complex wave phase, and recognizing this structure can help traders better time their market entries and exits.