After completing an ABC correction at ₹651.50, Paytm (One 97 Communications) has formed a clean 5-wave impulsive move upward. The current structure shows Wave 5 progressing, with internal subwaves 1-2-3-4-5 clearly visible within it.
The projected target zone for Wave 5 lies between ₹938.50 and ₹1,012.95, derived from 1x and 1.618x of Wave 1 measured from Wave 4. Price is currently trading near ₹963 – right inside this key confluence zone.
Price remains above both the 100 and 200 SMAs, confirming the overall bullish structure. However, with momentum showing signs of fatigue, a short-term pullback may follow as Wave 5 nears exhaustion.
Chart will be updated as price action evolves.
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.
The projected target zone for Wave 5 lies between ₹938.50 and ₹1,012.95, derived from 1x and 1.618x of Wave 1 measured from Wave 4. Price is currently trading near ₹963 – right inside this key confluence zone.
- Volume picked up during Wave 4 and has continued into Wave 5, showing continued interest from participants.
- RSI is in overbought territory (~76) and has not confirmed the new high, hinting at potential bearish divergence.
Price remains above both the 100 and 200 SMAs, confirming the overall bullish structure. However, with momentum showing signs of fatigue, a short-term pullback may follow as Wave 5 nears exhaustion.
Chart will be updated as price action evolves.
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.
Note
Is there one final push towards upside remaining?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.