🗓 Date of Analysis: 4 August 2025
Symbol: NSE:ECLERX
Chart Timeframe: ✅ Daily (Positional)
Current Price: ₹4087.30
Volume: 447.07K
% Change Today: +7.58%
🔹 2. Current Market Context
- Trend Bias: ✅ Bullish
- Current Pattern Status: ✅ Impulse Wave in Progress
- Higher Timeframe Context:
- LT Direction: Bullish
- Major Support: ₹3500 / ₹3200
- Major Resistance: ₹4300 / ₹4800 (new ATH zone)
🔹 3. Wave Count Summary (Tentative)
⚙️ Impulse Wave – Likely Count In Progress
| Wave | Start Level | End Level | Structure | Status |
|---|---|---|---|---|
| Wave 1 | ~₹2000 | ~₹3300 | Normal Impulse | ✅ Confirmed |
| Wave 2 | ~₹3300 | ~₹2600 | Zigzag | ✅ Completed |
| Wave 3 | ~₹2600 | ~₹4000+ | Likely Extended | ✅ In Progress |
| Wave 4 | [To come] | [Pending] | Flat/Triangle | ❌ Not started |
| Wave 5 | [Pending] | [Potential ₹4300–4800+] | Truncated or Extended | 🔄 Expected |
🔹 4. Fibonacci Zones (Approximated)
| Level | Fib Ratio | Price Target / Zone | Notes |
|---|---|---|---|
| Wave 2 Retracement | 61.8% | ~₹2600 | Close to major support |
| Wave 3 Target | 161.8% of W1 | ~₹4000–₹4150 | Currently testing this zone |
| Wave 4 Retrace | 23.6%–38.2% | ~₹3600–₹3800 | Possible re-entry if dips |
| Wave 5 Target | 61.8%–100% of 0–3 | ₹4300–₹4800 | 🚨 Extension possible |
🔹 5. Trade Plan (Hypothetical)
| Setup | Entry Zone | Stop Loss | Target Zone | R:R |
|---|---|---|---|---|
| Long (Wave 4 Dip) | ₹3700 | ₹3450 | ₹4300–₹4600 | 2.5:1 |
| Short (Wave 5 top reversal) | ₹4700 | ₹4850 | ₹4000 | Risky countertrend |
🔹 6. Alerts & Invalidations
- Key Invalidation: If price drops below ₹3450, impulsive wave structure may fail.
- Alternate Count: Ending diagonal in Wave 5 if momentum slows.
- Trigger to shift: Failure to cross ₹4300 with volume.
🔹 7. Chart Snapshot
✅ Attached chart confirms a breakout move with high volume, likely Wave 3 extension nearing resistance.
🔹 8. Notes & Sentiment
- Market Sentiment: ✅ Bullish
- Correlation with Nifty: Positive
- Volatility: ✅ High (gap-up + 7.5% move)
🔚 Conclusion:
ECLERX is currently in a strong Wave 3 rally nearing its extended target (₹4000–₹4200). A short-term pullback (Wave 4) can provide a good entry opportunity around ₹3700–₹3800. The larger trend remains bullish until key support at ₹3450 breaks.