MAZDOCK - Textbook structure of Elliott WaveMazagon Dock Shipbuilders Ltd.NSE:MAZDOCKimkhushalThe advance from wave-4 to the marked wave-5 shows clear loss of momentum, overlapping internal swings, and a failure to extend meaningfully beyond the prior impulse channel, which is typical of a Neo-Wave terminal move. Wave-5 also appears internally corrective (3-wave–like) rather than a clean impulsive structure, aligning with Neo-Wave’s guideline that fifth waves can truncate or morph into complex endings after strong third waves. The subsequent break below the rising trendline and sustained acceptance below the 0.236 retracement (~2898) further supports completion, as Neo-Wave requires post-termination confirmation via structure damage. Unless price reclaims and holds above the wave-5 high with renewed impulsive behavior (which would invalidate the terminal read), the higher-probability interpretation is that a larger corrective phase is already underway, with downside risk extending toward deeper retracements before any new impulsive sequence can begin.