The 3rd Wave

MAK Capital Weekly Summary View: Neutral to Slightly Bearish CMP: 24,175 Market Structure: Recovery → Consolidation → Rejection Near Resistance | Short-Term Lower Highs | Major Support Still Intact Candlestick Pattern: Bearish Candle – The latest weekly candle reflects continued selling pressure and profit booking near resistance. No confirmed breakdown yet, but the short-term structure has weakened. RSI (Weekly): 49.17 – RSI has slipped below 50, indicating weakening momentum. A move back above 50–55 is required for stronger bullish confirmation. MACD (Weekly): Positive but Flattening – MACD remains relatively supportive, but momentum is slowing. A fresh expansion is needed to confirm renewed upside strength. Accumulation Zone: 23,900–24,050 on dips Weekly Stop Loss: 23,893 on closing basis Resistance: 24,344 → 24,700 → 24,772 → 25,200 Support: 23,893 → 23,400 → 23,000 Targets: Short Term: 24,344–24,772 Medium Term: 25,200–25,823 Long Term: 26,172–26,370 Strategy The weekly chart requires a little more caution compared to the previous weeks. Momentum has weakened, RSI has slipped below 50, and the latest candles show selling pressure near resistance. However, the structure has not broken down yet. As long as Nifty holds above 23,893, the current move can still be treated as consolidation within the broader recovery. A decisive weekly close above 24,344 would be the first sign of improvement, while a breakout above 24,700–24,772 would confirm renewed bullish momentum. Until then, the preferred strategy should be selective buying on dips and avoiding aggressive chasing near resistance.

Nifty Weekly

The Stock Of The Week ATHER ENG now 1550 from 1465

Darling of Dalal Street. Below the moving average after 2009. Those who understand charts know the importance. Those who don't understand still can imagine the importance.

Keep a Deep watch Gayatri Projects CMP 22 View invalidation below 17.50 Turning positive on fundamentals & Technicals front.

The Stock Of The Week ATHER ENG 1500+ from 1465

TD POWERSYS Just One flip in 6 years. MAK Trending Impulse Indicator works on every Time Frame. But best results on the weekly Time Frame ( Investment time frame)

MAK Trending Impulse stocks. Buy signals on the daily Time Frame.

Positional Swing Stocks AKUMS CMP 770 STRICT SL 724 TGT 860-980 INDIA GLYCOL CMP 1191 STRICT SL 1090 TGT 1385-1580-2050 RISHABH CMP 700 STRICT SL 663 TGT 890-1030-1710

The Stock Of The Week. ATHER ENG CMP 1465. KEEP PROPER SL. KEEP SL 1420

🥇 GOLD — ELLIOTT WAVE ANALYSIS ━━━━━━━━━━━━━━━━━━━━ 🌊 WHERE ARE WE? Gold completed a powerful Cycle Wave 1 rally to ~5,420 (all-time high). It's now correcting in Wave 2 — an A-B-C structure. Wave A bottomed near 4,077, and we're currently in Wave B (C) — a corrective bounce testing 5,104–5,420 resistance. RSI shows bearish divergence, warning this bounce lacks strength. ━━━━━━━━━━━━━━━━━━━━ 🚨 LINE IN THE SAND ➡️ 5,420 must NOT be crossed ❌ Break above = Wave 2 count fails, bullish continuation instead ━━━━━━━━━━━━━━━━━━━━ 🎯 KEY LEVELS 🔴 Resistance: 5,104–5,420 (Wave B top zone) 🟡 Watch: Below 4,850 confirms Wave C underway 📉 Wave C Target: 3,444–3,945 (prior Wave 4 zone) 🚀 Post-Correction Target: New ATH beyond 5,420 (Wave 3) ━━━━━━━━━━━━━━━━━━━━ 📊 SCENARIOS ✅ Primary (65%) — Wave B rejects near 5,104–5,420 → sharp Wave C decline toward 3,444–3,945 → then powerful Wave 3 rally to new highs 🟡 Extended Top (20%) — Wave B stretches closer to 5,420 before turning down — same eventual target ⚠️ Invalidation (15%) — Close above 5,420 → Wave 2 fails, bullish continuation directly ━━━━━━━━━━━━━━━━━━━━ 💡 BOTTOM LINE Gold is likely completing a corrective bounce before a sharper Wave C decline toward 3,444–3,945 — a high-probability accumulation zone. Once Wave 2 completes, the long-term structure favors a powerful rally to fresh all-time highs. 🙏 ━━━━━━━━━━━━━━━━━━━━ ⚠️ For educational purposes only. Not investment advice. Consult your SEBI-registered advisor before investing. Mandarr A Kashikar 📊 MAK Capital — Growing Wealth Together

Gold Elliott Wave Counts

📊 Mandarr's Market Take — Inter-Market P&F Ratios Nifty 50: 24,252 (+0.08%) — consolidating below CB (24,268), needs fresh up-column to signal strength. Gold/Nifty: 6,697.92 (+1.81%, +4.6% CL) — sharp up-column off 19/08 low, testing CB (6,698). Gold reasserting over equities. Gold/Silver: 658.72 (+0.51%) — same structure, at CB (659). Confirms genuine safe-haven bid, not just a metals rally. Bonds/Equity (GS Composite/Nifty): 129.66 (-0.12%) — longer up-trend intact, latest column a pause, not a reversal. Read: Gold strengthening vs both Nifty and Silver together is the key signal — money quietly rotating to safety. Bonds > equity trend still holding. Nifty itself range-bound, undecided. Mandarr A Kashikar MAK Capital — Growing Wealth Together

🇮🇳 NIFTY 50 — ELLIOTT WAVE ANALYSIS 📅 22 August 2026 | 📍 24,252.00 ━━━━━━━━━━━━━━━━━━━━ 🌊 WHERE ARE WE? Wave ④ correction completed near 21,600 in April 2026. Since then, Wave (1) rallied to ~24,600, and Wave (2) has now completed its correction near 23,100–23,400. We are now in the early stages of the powerful Wave (3) rally. ━━━━━━━━━━━━━━━━━━━━ 🚨 LINE IN THE SAND ➡️ 23,106 should hold ❌ Break below 22,727 = Wave ④ count in question ━━━━━━━━━━━━━━━━━━━━ 🎯 KEY LEVELS 🔴 Support: 23,106–23,392 (Wave 2 low zone) 🟡 Confirmation: Close above 24,600 (Wave 1 high) 📈 Target 1: 25,067 (Wave 3=1 equality) 🚀 Target 2: 25,969 (Wave 3 extended) ━━━━━━━━━━━━━━━━━━━━ 📊 SCENARIOS ✅ Bull (65%) — Wave (3) in progress, channel intact → breakout above 24,600 → 25,067–25,969 🟡 Channel Retest (20%) — Minor pullback toward 23,700–23,900 within Wave (3), still bullish ⚠️ Risk Case (15%) — Break below 23,106, alert below 22,727 → count needs revision ━━━━━━━━━━━━━━━━━━━━ 💡 BOTTOM LINE Wave (2) is complete. Wave (3) — the strongest leg — is underway, targeting 25,000–26,000. As long as 22,727 holds, the bullish structure remains firmly intact. 🙏 ━━━━━━━━━━━━━━━━━━━━ ⚠️ For educational purposes only. Not investment advice. Consult your SEBI-registered advisor before investing. Mandarr A Kashikar 📊 MAK Capital — Growing Wealth Together

Nifty Wave Counts.

Nifty Wave Counts Possible wave counts. 4 charts favouring upmove. 1 is down.