Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

Wave IV is unfolding in its final triangle leg as NBCC approaches a key support zone. The current decline in wave ((E)) is expected to end between 89.69 and 77.24 before the long-term bullish trend resumes above 137.56.​

NBCC (India) Limited continues to maintain a constructive long-term Elliott Wave structure despite the ongoing correction from its 2024 peak. After delivering an exceptional rally from the 2022 low, the stock completed a five-wave impulsive advance into wave III at 137.56. Since then, price has entered a corrective phase that appears to be unfolding exactly as expected within a classic Elliott Wave triangle pattern. The broader trend remains firmly bullish, and the current decline should be viewed as a corrective pause rather than the beginning of a larger bearish trend. As long as the long-term invalidation level at 16.98 remains intact, we continue to favor higher prices once the correction is complete.

Wave IV Triangle Enters Its Final Stage​

The correction consists of five internal legs labeled wave ((A)), ((B)), ((C)), ((D)), and ((E)). According to the current structure, wave ((D)) has already completed, and NBCC has started the final decline in wave ((E)). This last leg should unfold in a corrective three-swing sequence while remaining above the low of wave ((C)), preserving the validity of the triangle. Based on Fibonacci projections, we expect wave IV to complete within the 89.69–77.24 support zone. This area represents a high-probability region where buyers could return and prepare the stock for the next impulsive advance.

Wave V Outlook Remains Bullish​

Once wave IV completes, NBCC should begin wave V, resuming the larger bullish trend. The first objective will be a break above the previous wave III high at 137.56, which represents roughly 40% upside from current levels. A move above that level would confirm the continuation of the long-term impulsive sequence, with the potential for additional gains if wave V extends. Until the correction finishes, traders should continue monitoring the 89.69–77.24 region for signs of a completed Elliott Wave structure. A completed three-swing decline followed by a bullish reversal would strengthen the case that wave IV has ended.

Summary​

NBCC remains in a long-term bullish Elliott Wave trend despite its ongoing wave IV correction. The stock is currently developing the final wave ((E)) leg of a contracting triangle, with support expected between 89.69 and 77.24. Once the correction is complete, we expect wave V to break above 137.56, offering approximately 40% upside while keeping the broader bullish outlook intact.

Source: https://elliottwave-forecast.com/st...e-analysis-wave-iv-89-69-77-24-target-137-56/

 

[Elliottwave-Forecast]

Goldman Sachs (NYSE: GS) extended its rally to new all-time highs. The stock broke above the $1000 milestone as we expected in our previous article. Today, we explore the Elliott Wave pattern dictating the current move. Our analysis explains the potential upside targets ahead.
Elliott Wave Analysis
Goldman Sachs extended its rally from the March 2026 low of $780. The stock broke above the wave III peak of $980. Then, it crossed the $1000 milestone, opening the door for further upside. GS established an initial five-wave advance in wave ((1)), ending at $1125. Subsequently, wave ((2)) pulled back to $1003. Then, the stock resumed its rally higher in wave ((3)).

Therefore, GS must hold above the recent July low of wave ((2)). This support will allow the rally to continue. The next upside move should extend the stock toward the $1216 - $1267 target zone. Then, another correction will follow before further continuation.

Ideally, the cycle from the March 2026 low aims for the $1350 - $1560 equal legs area. This would set the stage for a stronger rally by year-end.

GS Daily Chart 7.15.2026​

Conclusion​

Goldman Sachs’s bullish cycle suggests further continuation beyond $1300 . Consequently, investors should target buying opportunities within daily pullbacks. Utilize our Elliott Wave strategy for precise entry timing.

Source: https://elliottwave-forecast.com/stock-market/goldman-sachs-gs-bullish-trajectory/

 

[Elliottwave-Forecast]

Strategic Importance Taiwan Semiconductor Manufacturing Company (TSMC), traded under the ticker TSM, holds one of the most critical positions in the global technology industry. While companies like NVIDIA, Apple, and AMD design chips, TSMC manufactures the advanced semiconductors that power their products. This makes TSMC not just a chipmaker, but a core infrastructure provider for AI, cloud computing, smartphones, high‑performance computing, automotive electronics, and more.

Business Model TSMC operates as a pure‑play foundry, focusing on producing chips designed by other companies. This model allows tech giants to concentrate on architecture and product development without building their own fabrication plants. Manufacturing leading‑edge chips is capital‑intensive and technically complex, and only a handful of companies worldwide can do it at scale. TSMC has established itself as the leader by consistently delivering advanced processes, strong yields, and reliable execution.

Competitive Advantage TSMC’s edge lies in its technological leadership. As chips shrink, transistor density rises, making manufacturing exponentially harder. TSMC has repeatedly transitioned customers to newer nodes while maintaining viable yields — a critical capability for AI and HPC processors. Its moat is reinforced by:

• Decades of technical expertise
• Long‑term relationships with top chip designers
• Heavy capital investment in advanced nodes
• Scale advantages across R&D and procurement
• A robust ecosystem of partners
• High switching costs for customers

AI as a Growth Driver Artificial intelligence is now one of TSMC’s most powerful growth engines. AI data centers require GPUs, custom accelerators, CPUs, networking chips, and advanced memory — nearly all dependent on TSMC’s leading‑edge manufacturing. Regardless of which chip designer dominates, TSMC benefits as the “picks and shovels” provider to the AI boom.

Advanced Packaging Beyond transistor scaling, advanced packaging has become essential for performance. By integrating multiple components into a single system, packaging improves speed, efficiency, and energy use. TSMC’s investment here adds another competitive advantage and revenue stream, positioning it at the center of next‑gen computing architecture.

Financial Strength & CapEx TSMC’s model requires massive capital expenditures to stay at the frontier. While this can pressure free cash flow, it builds capacity for future growth. Investors must watch whether spending aligns with sustainable demand. Historically, TSMC has balanced margins, pricing power, and customer relationships to fund innovation while maintaining profitability.

Geographic Diversification TSMC is expanding outside Taiwan — into the U.S., Japan, and other regions — to reduce supply‑chain risk and strengthen government ties. However, overseas fabs are more expensive, requiring careful balance between diversification and efficiency.

Risks Despite its dominance, TSMC faces:

• Geopolitical uncertainty around Taiwan
• Cyclical demand in semiconductors
• Customer concentration risk
• Rising competition from Samsung and Intel
• Manufacturing cost pressures and yield risks
• Export restrictions and trade tensions

Valuation & Outlook TSMC should be valued not just as a cyclical chipmaker but as a high‑quality infrastructure leader in AI and advanced computing. Still, valuation must be weighed against earnings growth, CapEx, free cash flow, and geopolitical risk.

Long‑Term Fundamental Outlook​

The long‑term outlook for TSMC remains closely tied to the relentless expansion of global computing demand. Artificial intelligence, cloud infrastructure, advanced smartphones, autonomous vehicles, robotics, industrial automation, and connected devices will all require increasingly powerful semiconductors.

TSMC is uniquely positioned to capture this growth. Its scale, engineering expertise, manufacturing reliability, and deep relationships with leading chip designers provide a durable competitive advantage. These strengths ensure that TSMC remains at the center of next‑generation computing architecture.

That said, risks cannot be ignored. Geopolitical uncertainty surrounding Taiwan, the cyclical nature of semiconductors, high capital expenditures, and intensifying competition from rivals like Samsung and Intel must remain central to any investment analysis.

Nevertheless, TSMC represents one of the clearest ways to gain exposure to the physical infrastructure behind artificial intelligence. As long as demand for computing power and advanced processors continues to rise, TSMC is likely to remain one of the most strategically important companies in the global technology ecosystem.

From a fundamental perspective, TSMC stands out as a high‑quality semiconductor leader with direct exposure to AI and high‑performance computing. The key question now is whether the technical structure supports further upside or signals a larger correction before the next major opportunity.

Elliott Wave Technical Outlook​

Bullish Base Case (Wave (III)) TSMC is currently trading within a powerful wave (III) advance. This structure suggests the stock could reach the $700 area within the next few years, depending on the broader path of global indices. Analysts expect world indices to enter one of the strongest accelerations ever seen, which could create a “nest” formation in TSM and fuel further upside momentum.

Less Bullish Scenario In a more conservative view, TSM is completing wave ((5)) of the current cycle. Once this wave ends, the stock may enter wave (IV) before resuming higher in wave (V). This path still supports upside, but with corrective pauses along the way.

More Bullish Scenario An alternative, highly bullish view sees TSM advancing toward the $550–$600 area in the near term, while forming a quadruple nest since March 27, 2026. This structure could trigger the biggest acceleration into wave (3), supported by strength in global indices, Tesla, Copper, and other markets. Though aggressive, this scenario remains realistic and highlights the potential for explosive upside.

Trading Insight Regardless of which scenario unfolds, the bias remains bullish. The recommendation is to buy dips in 3‑7‑11 swing sequences, using corrective pullbacks as opportunities to enter the market with defined risk.

Source: https://elliottwave-forecast.com/st...miconductor-700-within-the-grand-super-cycle/