Riding the Final Wave: Eicher Motors Aiming for the MOON.

🔍 Wave Structure Analysis (Elliott Wave Count):
The chart follows a classic 5-wave impulsive structure:

Wave i → ii → iii → iv → v (subwaves of primary wave 1).

Wave (ii) retraced ~38.2% of Wave (i), showing healthy correction.

Wave (iii) extended well, with internal sub-waves clearly marked (i, ii, iii, iv, v).

Current move is likely Wave v of 1, still in progress.

📐 Fibonacci Levels (Retracement & Projection):
Wave (ii) retraced to 0.382 (₹2,101.80) — ideal for wave ii corrections.

Wave (iii) reached 1.618 extension of Wave (i) at around ₹5,048.85 — confirming it as an extended wave.

Wave (iv) respected the 0.382 retracement zone from Wave (iii), retraced till around ₹4,208.70 – ₹4,538.55.

Projected Target for Wave (v): ~₹7,635.55 (also marked as end of Wave 1 in pink).

📊 Indicators:
RSI: Currently at 57.09, just above the neutral zone.

Indicates moderate bullish momentum, not overbought.

RSI is rising, supporting the continuation of wave v.

Volume: Fairly steady — no divergence observed, backing the price action strength.

✅ Key Support Zones:
₹4,208 – ₹4,538: Support cluster (Fibo retracement zone of wave iv).

₹2,766.05 and ₹2,101.80: Long-term supports from earlier wave structures and retracement levels.

⚠️ Verification & Corrections:
✅ Wave labeling and Fibonacci levels appear technically correct.

✅ Subwaves are well-defined and follow Elliott Wave rules:

Wave iii is not the shortest.

Wave iv does not enter Wave i territory.

⚠️ Keep an eye on divergence or failure at ₹5,900–₹6,000 zone — critical resistance before ₹7,600.

📌 Summary:
Eicher Motors is in the final stages of completing Wave v of Primary Wave 1, with a projected upside target near ₹7,635. RSI and volume confirm a healthy uptrend, and Fibo levels add credibility. The structure appears valid and aligns well with classical Elliott Wave and Fibonacci guidelines.