BSE Ltd appears to have completed a five-wave impulsive advance following a prior flat correction. Wave 5 has reached the 1.618 Fibonacci extension of Wave 1 and touched the upper boundary of a well-defined ascending channel — suggesting a potential short-term top.
If a correction unfolds from here, it may take the form of a zigzag or a flat. Key Fibonacci retracement levels to watch:
The invalidation level for this setup is around 2,736.20. A sustained move above this would indicate that the uptrend may still be in progress.
Price action in the coming sessions will be key to confirming the next direction.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
If a correction unfolds from here, it may take the form of a zigzag or a flat. Key Fibonacci retracement levels to watch:
- Target 1: 2,159 – 0.382 retracement
- Target 2: 1,981 – 0.5 retracement
- Target 3: 1,803 – 0.618 retracement
The invalidation level for this setup is around 2,736.20. A sustained move above this would indicate that the uptrend may still be in progress.
Price action in the coming sessions will be key to confirming the next direction.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
Note
Update – Wave 3 Subdivision Unfolding:The price has extended beyond the previous Wave 5 target, suggesting that what was initially marked as Wave 5 might still be in progress. On closer inspection, the move from the Wave 4 low now appears to be a subdividing Wave 3 of a larger degree. This chart reflects the internal 1–2–3–4–5 structure within Wave 3, indicating further upside is possible before the full impulse completes.
Note
It indeed looks like it was the 3rd wave extension instead of 5th wave as shown here respecting the levels. There is possibility of a short term pull-back to the retracement zones. Important to note the Invalidation level. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.