S&P BSE Sensex Next 50 Index Wave technical analysis [Video]

S&P BSE Sensex Next 50 Wave technical analysis

Function: Bullish Trend.

Mode: Impulsive.

Structure: Orange Wave 3.

Position: Navy Blue Wave 3.

Direction next higher degrees: Orange Wave 3 (started).

Details:

Orange wave 2 appears completed, with orange wave 3 now progressing.

Wave cancel invalid level: 75640.

The daily chart signals a bullish trend for the S&P BSE SENSEX NEXT 50 index, characterized by a strong impulsive structure. The wave count indicates orange wave 3 is now forming within the broader bullish move of navy blue wave 3, suggesting orange wave 2 has ended and a significant upward phase is underway. This part of the impulse wave typically reflects the strongest market advance in an Elliott Wave sequence.

The analysis affirms the completion of orange wave 2 and the initiation of upward movement in orange wave 3. A key invalidation level is marked at 75640; any move below this point would invalidate the bullish structure, signaling either a deeper correction or a possible trend shift. The wave's impulsive quality suggests substantial buying pressure is in place, likely from institutional participants, with more upward movement anticipated within navy blue wave 3.

Traders should watch for continued development in orange wave 3 while staying alert to any breach of the invalidation level that might warrant reevaluation. The structure suggests the index is in the early stage of a potentially extended rally, with further upside possible as orange wave 3 unfolds within the larger navy blue wave 3 context. This setup offers crucial guidance for market participants to gauge current positioning and identify critical risk levels.

S&P BSE Sensex Next 50 Wave technical analysis

Function: Bullish Trend.

Mode: Impulsive.

Structure: Navy Blue Wave 3.

Position: Gray Wave 1.

Direction next higher degrees: Navy Blue Wave 3 (started).

Details:

Navy blue wave 2 appears completed, and navy blue wave 3 of gray wave 1 is in progress.

Wave cancel invalid level: 70176.

The weekly chart presents a firmly bullish outlook for the S&P BSE SENSEX NEXT 50 index, supported by a strong impulsive wave pattern. This setup identifies navy blue wave 3 forming within gray wave 1, indicating the end of the navy blue wave 2 correction and the beginning of a significant upward movement. This segment is typically the strongest in an Elliott Wave sequence and often reflects sustained market strength.

The analysis confirms that navy blue wave 2 has finished, transitioning into the upward phase of navy blue wave 3 within the larger gray wave 1. A key invalidation point lies at 70176; a drop below this would invalidate the current count and could suggest either a deeper correction or trend reversal. The chart signals strong institutional activity behind the price movement, and the weekly timeframe suggests a long-term bullish trend may be underway.

The gray wave 1 positioning suggests this move may be part of a broader, developing bullish cycle. Traders should watch navy blue wave 3’s progress closely, looking for continuation patterns and being cautious around the invalidation level. The present structure offers potential for extended gains, with wave three movements typically providing some of the most favorable setups within Elliott Wave analysis. This framework gives investors essential context on the index’s placement within its trend and helps define critical levels for strategy and risk control.

S&P BSE Sensex Next 50 Index Wave technical analysis [Video]