Axis Bank: Zigzag Ended at 1.618, Diagonal Structure in Play

Axis Bank topped out at its all-time high (₹1,339.65) before entering a sharp ABC correction.

• Wave A fell to ₹1,124.30
  
• Wave B retraced to ₹1,281.65
  
• Wave C declined to ₹933.50, completing exactly at the 1.618 projection of Wave A from Wave B — a classic Zigzag termination.
  

This precise completion at 933.50 set the stage for a potential new bullish cycle.

• From that low, Axis Bank has advanced in an overlapping fashion, typical of a Leading Diagonal.
  
• Price is now consolidating within Wave 4, unfolding as a complex W-X-Y-X-Z correction, hovering in the 0.5–0.618 retracement zone of Wave 3 (₹1,050–₹1,086).
  
• The invalidation level is ₹1,032.35 (Wave 2 low). As long as this holds, the bullish diagonal count remains valid.
  

If Wave 4 is indeed complete, the next move would be Wave 5, with potential to break past the swing at ₹1,238.70 and eventually retest the ATH of ₹1,339.65.

Disclaimer:
This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.