Nuvama Wealth: Elliott Wave Signals Strong Breakout Ahead

Combining Elliott Wave Theory with price action creates a powerful trade setup for spotting high-probability setups.

Beginners chase small moves, while experienced traders ride the strongest part of the trend. By aligning wave structure with price action, they filter noise and capture high-probability moves with confidence.

Nuvama Daily chart with Elliott wave and KST indicator

Elliott Wave provides a structured framework to evaluate both the direction and maturity of a market trend. When wave counts align with price action, it enhances conviction and improves the probability of capturing meaningful moves, even in individual stocks.

Nuvama Wealth Management Ltd is approaching a potential breakout zone. The ongoing decline appears to be the final phase of Primary Wave (2). A sustained move and acceptance above the 7600 level would confirm its completion, paving the way for the start of Primary Wave (3)—typically the strongest and most rewarding phase of the trend.

KST Indicator – KST indicator is one of the indicators that helps traders to understand overall momentum in a particular instrument. It can be observed that KST line(green) is crossing Signal line(red) from below and is now about to cross 0 line indicating bullish momentum have started building up in the stock.

In a nutshell, Elliott wave counts, price action, and indicator alignment point towards a strong setup. The bullish setup is further supported by the KST indicator. A move above 7600 may trigger fresh course of rally, with 6950 acting as crucial support.

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