TATA TECH: Messy But Intentional — Diagonal at Work?

After tagging the all-time low at 597, price started a steady climb. The structure unfolding looks like a potential leading diagonal, not a typical impulsive sprint. Wave 1 pushes up to 731.75, followed by a sharp drop to 640 — a classic deep Wave 2, but still holding above the origin. From there, Wave 3 stretches to 777.4, slightly longer than Wave 1, keeping things in check.

Then comes the messy drop — choppy, overlapping, three-legged, as Wave 4 of a diagonal. It lands right into the golden retracement zone, finding support between 0.5 and 0.786.

Now the price is bouncing back and is above 715, nudging towards the upper channel. If it sustains, Wave 5 could unfold next, aiming to breach the 797 high. But — and this is crucial — if price falls below 640, this structure breaks down. That would kill the diagonal count and force a rework.

RSI is curling up from oversold, hinting at renewed strength. Price, structure, and momentum — all are beginning to align. Let's see how the price strcuture unfolds in the coming week.