PAYTM: Is Wave 4 Setting Up the Next Major Move?
Sep 29, 2026
Combining Elliott Wave Theory, price action and AK Indicator helps traders identify high-probability setups. By aligning wave structure with real-time price action, traders can filter market noise and focus on capturing the strongest part of the trend.
PAYTM daily chart with Elliot wave as on 29th September 2026
Price action
- On the daily chart, PAYTM can be observed heading downside, particularly since 23rd September 2026, indicating bearishness in the stock.
- Since then, the stock has declined by almost -10%, with prices closing below the prior session’s low indicating selling pressure from higher levels.
- Also, prices have broken below the 30 EMA for the first-time post June 2026 which is a negative sign.
Elliott wave Analysis
- As per the wave perspective, PAYTM completed its Intermediate wave 3 on 27th August 2026 near the 1730 level.
- Post which the stock has been trading in the form of Intermediate wave 4, which looks to be ongoing in the form of Flat pattern as wave minor wave (b) has retraced more than 61.8% of wave (a).
- Now the fall is ongoing in the form of wave c of wave 4.
Conclusion
- The confluence of Elliot Wave structure with price action and Indicators suggests that the stock is on the side of bears.
- For now, a further break below the 1625 level can drag prices lower as long as 1855 holds on the upside.
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