Graphite India – Major Breakout on Monthly Chart (NeoWave & Elliott Wave View)

After 16 months of consolidation, Graphite India has finally broken out of its monthly triangle pattern. This setup fits beautifully within NeoWave and Elliott Wave theory. The long consolidation phase formed a contracting triangle, likely the Wave 4 structure in a larger impulsive sequence. When such a triangle completes, it often triggers a sharp Wave 5 rally — and that’s what seems to be unfolding now.

The key level to watch is ₹633. A monthly close above this level will confirm that the triangle breakout is genuine. Once this happens, the trend could turn decisively bullish with fresh momentum supported by volumes and price expansion.

Targets based on NEoWave projections:

• T1 – ₹1172

• T2 – ₹1393

• T3 – ₹1615

These targets correspond to the 100%, 138.2%, and 161.8% Fibonacci extensions of the prior impulsive leg — areas where price usually reacts or pauses.

NeoWave also emphasizes time relationships. Since the triangle took around 16 months to form, the upcoming impulsive move could last 5–8 months if the rally holds strength. The post-triangle phase often moves quickly, leaving little room for late entries, so it’s better to plan positions early while the breakout is still fresh.

In short, Graphite India has completed a textbook NeoWave triangle and is showing all signs of entering a strong directional move. A monthly close above ₹633 will keep the structure valid, and as long as this level holds, higher targets toward ₹1172, ₹1393, and ₹1615 remain on the radar. to learn contact: Click Here