The weekly chart of MRF Ltd appears to be completing a Wave 5 ending diagonal, a structure that often marks the final leg of a larger impulse. The internal waves (i)–(v) overlap neatly within converging trendlines, signalling exhaustion rather than expansion.
Meanwhile, RSI is diverging—price printed a new high, but momentum failed to confirm. This bearish divergence suggests the rally is running on fumes.
A break below the lower wedge line could open the door for a sharp corrective decline, potentially retracing a good portion of the entire fifth-wave rise.
Summary:
Final push likely done. Momentum fading. Watch the wedge support—if it cracks, the tyre may finally deflate.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
Meanwhile, RSI is diverging—price printed a new high, but momentum failed to confirm. This bearish divergence suggests the rally is running on fumes.
A break below the lower wedge line could open the door for a sharp corrective decline, potentially retracing a good portion of the entire fifth-wave rise.
Summary:
Final push likely done. Momentum fading. Watch the wedge support—if it cracks, the tyre may finally deflate.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.