Paytm: Is Wave 3 Driving the Next Leg of the Rally?

Blending Elliott Wave Theory with price action helps traders spot high-probability trading opportunities. Check out the research below on Paytm on how Elliott wave acts as a GPS even for stocks.

PAYTM Daily chart with Elliott Wave

Analysis

• On the daily chart, PAYTM can be observed heading higher, particularly since mid-June 2026, indicating strong bullishness in the stock.
• Since then, the stock has delivered a whopping gain of more than 66%, forming Higher High and Higher Low structure, which is a positive sign.

Research using Elliot Waves

• As per the wave perspective, PAYTM completed its Primary Wave (2) in March 2026 near the 930 level.
• Post which the stock has been trading in the form of Primary Wave (3), which is further subdividing in nature.
• The current rise is ongoing in the form of Intermediate Wave 3, within which Internal Wave 5 is currently unfolding.
• Internal Wave 5 appears to be extended, and if the extension continues, then as per Elliott Wave guidelines, it can potentially extend up to 1.618 * of Waves 1 and 3.

Conclusion

• The combination of Elliot Wave structure, price action, suggests the stock is on the side of bulls.
• Dips can be used as an opportunity to ride the ongoing trend with 1540 level remains a crucial support to watch in the near term.
• We had also covered this stock previously in our “Vayu Research Report” dated on 24th August 2026.

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