STAR : on a GOLDEN Reversal Zone — Is the Bounce Imminent?

STRIDES PHARMA (STAR) – Wave C Completion Zone Hit | Bullish Reversal & Target 1039–1056 Loading?
🧠 Market Structure & Elliott Wave Context

Strides Pharma has completed a classic A–B–C corrective pattern following a strong impulsive Wave A.
Price has now entered the crucial Wave C completion zone → ₹851–₹914, which aligns perfectly with the 50%–78% Fibonacci retracement of Wave A 🔥.

Key structure observations:

Profit booking earlier happened at the 113–127% extended retracement of the last swing high (textbook Elliott Wave Wave A exhaustion).

Price broke out of a consolidation block, then sharply retraced into Wave C.

The current pullback is healthy and controlled, not a trend reversal.

This is exactly where reversal setups typically appear before Wave C → Wave C extension impulses.

📚 Educational Breakdown

1. 📘 A–B–C Corrective Wave Structure:
   Wave A = initial drop
   Wave B = retracement (profit taking / liquidity grab)
   Wave C = final flush into demand
   Once Wave C completes, price usually begins a fresh impulse.
   
   
2. 🔄 50%–78% Fib Retracement (Wave B/2 Zone):
   This zone is statistically one of the most reliable reversal regions in corrective legs.
   STAR is sitting exactly inside this zone → high-probability bounce area.
   
   
3. 🌀 Extended Retracement Targets (113%–128%):
   Wave C → Wave C extension often targets these levels.
   Your chart reflects this perfectly for the upside projection.
   
   
4. 📉 Stop-Loss Logic (Risk Control):
   A close below ₹847 breaks the structural logic of Wave C completion → invalidation level.
   

🎯 Price Prediction & Upside Targets

If STAR reverses from the ₹851–₹914 Wave C demand zone, bullish upside opens toward:

🎯 Short-Term Target: ₹1039 – ₹1056 (F&O / extended retracement target)
🎯 Medium-Term Target: ₹1085+ (if momentum continues)

Upside activation strengthens if price crosses ₹914–₹920 with volume.

📈 Risk–Reward Perspective

Entry Zone: ₹851 – ₹914

Stop Loss: ₹847 (daily close)

Target: ₹1039–₹1056

Risk: ~₹20–₹40

Reward: ₹125–₹200

👉 Risk–Reward Ratio: Approx 1 : 3.5 to 1 : 6 🚀
(Excellent R:R for swing traders)

💡 Trading Strategy (Educational Only)

1. 🟢 Entry Strategy:
   Enter in the ₹851–₹914 zone.
   Wait for bullish reversal candles → Hammer, Engulfing, or ChoCH on lower timeframes.
   
   
2. 📈 Confirmation Strategy:
   A break above ₹914–₹920 confirms buyer strength → safer entry for wave continuation.
   
   
3. 🎯 Profit Booking Plan:
   • Book partial at ₹1039–₹1056
   • Trail SL to cost after breakout
   • Hold runners for extended move
   
   
4. ⚖️ Risk Management:
   • Keep SL strictly below ₹847
   • Risk max 1–2% capital
   • Don’t average below structure break
   

🧩 Summary

STAR is showing a high-probability bullish reversal after completing its Wave C at the ideal Fibonacci confluence zone.
If the structure flips bullish, a strong move toward ₹1039 → ₹1056 is likely next.
This setup offers excellent risk–reward and aligns cleanly with Elliott Wave and Fibonacci principles ⚡.

⚠️ Disclaimer

I am not a SEBI-registered analyst.
This analysis is for educational and informational purposes only — not investment advice.