Tata Consultancy Services (TCS) Elliott Wave technical analysis [Video]

Tata Consultancy Services Corp – Elliott Wave technical analysis

Function: Bullish Trend.

Mode: Impulsive.

Structure: Navy blue wave 1.

Position: Gray wave 5.

Direction next lower degrees: Navy blue wave 2.

Details: Gray wave 4 appears complete. Navy blue wave 1 of 5 is currently unfolding.

The daily chart for TATA CONSULTANCY SERVICES CORP reflects a bullish trend forming via an impulsive Elliott Wave pattern. With gray wave 4 correction now seemingly concluded, the stock has transitioned into navy blue wave 1, forming part of the broader gray wave 5 advance. This setup indicates the beginning of the final leg of the current bullish phase before a more significant correction may arise.

Navy blue wave 1 typically marks the starting point of the final impulsive push, often characterized by gradually increasing momentum as the market gains confidence. Following the gray wave 4 pullback, this current wave 1 is expected to drive prices higher as it forms the early structure of the last wave in the trend sequence. Continued strength is anticipated before any pullback associated with navy blue wave 2.

Once navy blue wave 1 concludes, the market is expected to enter navy blue wave 2—a corrective phase likely to provide a short-term pullback opportunity before the trend resumes upward in gray wave 5. The daily chart timeframe helps visualize this setup, signaling a fresh move higher within the broader trend and highlighting areas of potential entry.

Traders should watch for typical wave 1 behavior—steady price gains and a pickup in volume. This phase offers bullish trade opportunities but also marks the possible end of the existing trend cycle. As gray wave 5 develops, it’s essential to monitor for wave-ending patterns and momentum divergence, which may signal the completion of this larger bullish structure.

Tata Consultancy Services Corp – Elliott Wave technical analysis

Function: Bullish Trend.

Mode: Impulsive.

Structure: Gray wave 5.

Position: Orange wave 3.

Direction next higher degrees: Gray wave 5 (in progress).

Details Gray wave 4 appears complete. Gray wave 5 of 3 is currently unfolding.

The weekly chart of TATA CONSULTANCY SERVICES CORP reflects a bullish trend moving into its final stages within an impulsive Elliott Wave pattern. The stock has completed gray wave 4 correction and entered gray wave 5, which is part of the broader orange wave 3 formation. This setup marks the concluding leg of the current bullish cycle at this degree.

Gray wave 5 signifies the terminal phase of this advance, often displaying either strong follow-through or early signs of exhaustion. Following the end of wave 4’s correction, gray wave 5 typically aims to reach or surpass prior swing highs. The structure currently suggests that this upward movement may be nearing its peak, forming the final segment of the broader impulsive sequence.

This weekly timeframe provides vital insight into the overall market context, indicating that the stock is likely in the later stages of its bullish run. The transition into orange wave 3 at a higher degree may still offer more upside potential, but participants should closely monitor gray wave 5 for signs of maturity—such as divergence in momentum or reversal formations.

This stage may represent a final bullish opportunity before a larger correction sets in. Traders are advised to stay alert for traditional wave-ending signals. It’s important to remember that wave 5 can sometimes extend beyond expectations, making active monitoring essential. Upon completion of gray wave 5, a significant pullback could develop.

Technical tools and price action analysis will be key in confirming when momentum fades and the corrective phase begins. Close observation of the pattern’s progression will help determine when the market shifts from bullish impulse to correction, providing valuable information for medium-term positioning.

Tata Consultancy Services (TCS) Elliott Wave technical analysis [Video]