Adani Enterprises – ADANIENT Elliott Wave technical analysis [Video]

Adani Enterprises – Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Navy blue wave 4.

Position: Gray wave C.

Direction next lower degrees: Navy blue wave 5.

Details: Navy blue wave 3 of C appears complete; navy blue wave 4 of C is active and nearing its end.

The daily analysis of Adani Enterprises shows a counter-trend situation marked by corrective price action within a broader bearish framework. The current chart reflects the formation of navy blue wave four as a part of gray wave C, indicating that the stock is approaching the final stages of its corrective decline. Navy blue wave three of C appears to be completed, and the market is now in navy blue wave four, which generally involves sideways or slight upward movements before the continuation of the downward move.

Positioned within gray wave C, this wave sequence represents the closing phase of a larger corrective pattern. The next anticipated move is navy blue wave five, expected to finalize the ongoing bearish cycle. Given the corrective nature of wave four, the upside is likely limited. Traders should watch closely for signs of trend exhaustion, which may signal the start of wave five’s descent. This analysis framework helps investors understand where the stock lies within its broader corrective structure, pointing to both a short-term opportunity and a likely bearish continuation.

Adani Enterprises – Elliott Wave technical analysis

Function: Counter Trend.

Mode: Impulsive.

Structure: Gray wave C.

Position: Orange wave 2.

Direction next higher degrees: Orange wave 3.

Details: Gray wave B appears complete; gray wave C is now unfolding.

The weekly chart analysis of Adani Enterprises highlights a counter-trend structure with emerging impulsive traits inside a broader corrective trend. The stock is currently in gray wave C, which is part of orange wave 2. This points to a deeper correction within the overall market structure. The conclusion of gray wave B has been confirmed, and gray wave C is now in progress, often considered the final downward leg in corrective formations.

This active gray wave C shows impulsive behavior, suggesting stronger downside momentum as the correction nears its end. The next anticipated development in higher degrees is orange wave 3, expected to begin once the current phase completes. That would potentially signal the start of a new upward trend. The confirmation of gray wave B ending supports the analysis of gray wave C actively driving the current move. Traders should closely watch price action for signs of gray wave C's completion, which could offer potential reversal setups.

The chart suggests the market may be close to exhausting its downward momentum. The current technical setup provides important insight into Adani’s long-term positioning and may help traders identify key reversal zones. While the downside potential appears limited, confirmation of any trend reversal requires careful analysis of price action and supporting indicators.

Adani Enterprises – ADANIENT Elliott Wave technical analysis [Video]